EddieJayonCrypto
23 Dec 24
Senior vice president and private banker at BOK Financial Securities, William Shane Garrow, is accused of embezzling $4,277,227 from at least 16 customer accounts from September 9, 2012, to April 10, 2024. He allegedly transferred funds to his own accounts at other financial institutions and wrote f...
BOK Financial Securities is in the spotlight as a senior vice president and private banker, William Shane Garrow, faces allegations of embezzling $4.2 million from 16 customer accounts. Garrow stands accused of transferring funds to his personal accounts at other financial institutions and issuing false cashier checks from client accounts to himself.
These actions, alleged to have occurred between September 9, 2012, and April 10, 2024, have led to charges of bank fraud and making a false federal income tax return against Garrow. BOK Financial has taken swift action, terminating Garrow's employment upon discovery of the breach and cooperating with law enforcement.
The impact on clients is described as isolated, and the company has undertaken remediation efforts. This case serves as a stark reminder of the importance of stringent internal controls and oversight within financial institutions.