The office of the Current of the Currency (OCC) takes action against a former bank employee who has reportedly stolen millions of dollars from customer accounts.
The OCC says that it is an order to ban William Shane Garrow, the former senior vice president of Private Banking for a Bok Financial subsidiary in Tulsa, Oklahoma.
Says the OCC,
“Between approximately March 17, 2021 and 12 March 2024, the respondent darkened around $ 3,437,536 of the accounts of multiple customers under the custody of the bank for his personal benefit, without the knowledge or authorization of the customers.”
According to the OCC, Garrow was concerned with unsafe and defective practices and violations of the law that resulted in considerable losses for the bank.
The regulator has now forbidden Garrow to work at the insured storage institutions, including banks and credit associations. The former bank manager agrees with the issue of the order without admitting or refusing the findings of the OCC.
The OCC promotion comes after Garrow has guilty of bank fraud and deliberately made and subscribed a false federal income tax. Garrow was sentenced to 71 months in prison last month. He was also instructed to pay $ 3.86 million in refund and $ 1,519 million to the IRS.
Public Prosecutors said that Garrow fraudulent wire transfers and checks of cashier directed from at least 16 customer accounts to entities and bank accounts that he checked. If a customer asked about the transactions, Garrow blamed it to a bank error and the money would stolen or reduce money from the bill of another victim.
Said the American lawyer Clint Johnson last month,
“Garrow misled people for more than 12 years, and his actions caused havoc in bank staff who had the task of correcting his mistakes. This was not a simple bank error or an accident, but rather a criminal schedule. Garrow abused the trust that was given to him by the bank and its customers.”
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