William Shane Garrow, BOK Financial: Update on Lawsuit Investigation
Have you suffered investment losses with former BOK Financial advisor William “Shane” Garrow?
The White Law Group is investigating claims involving William Shane Garrow and the liability his employers may have for failure to properly supervise him.
William “Shane” Garrow, a 49-year-old former Senior Vice President and private banker at BOK Financial, has reportedly pleaded guilty to bank fraud and filing a false federal income tax return, according to Tulsa News on 6. Over a 12-year period, Garrow allegedly embezzled more than $4.2 million from at least 16 client accounts, diverting the funds into his personal accounts.
When clients noticed discrepancies, Garrow purportedly falsely attributed them to mistakes and allegedly covered the shortfalls by transferring money from other clients’ accounts. BOK Financial reportedly terminated Garrow’s employment in March 2024 upon discovering his misconduct, conducted an internal investigation, and collaborated with law enforcement.
FINRA BrokerCheck: William Shane Garrow
According to his FINRA BrokerCheck Report, William “Shane” Garrow was reportedly registered with BOK FINANCIAL SECURITIES, INC. (CRD#:17530) from 06/03/2014 until 04/09/2024, in Tulsa, OK.
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
Broker Embezzlement
Broker embezzlement is defined as misappropriation of funds or assets entrusted to a financial broker for investment purposes. This form of misconduct occurs when brokers, who are entrusted with managing clients’ portfolios and making investment decisions on their behalf, engage in fraudulent activities to divert funds for personal gain. This white-collar crime is a breach of the fiduciary responsibilities and can include diverting funds to accounts that appear to be authorized to receive payments or transfers.
How to Recover your Investment Losses
A brokerage firm’s duty to supervise its advisors is a fundamental obligation under federal securities laws and FINRA rules. This duty is designed to protect investors.
If an advisor engages in misconduct, the firm can be held liable if it failed to detect or prevent the wrongdoing due to inadequate supervision. Firms that fail to supervise their advisors, can be held responsible for investment losses in a Financial Industry Regulatory Authority (FINRA) lawsuit.
Lawsuit Options: FINRA Arbitration vs. Class Action
Investors considering legal action may wonder whether a class action lawsuit or an individual FINRA arbitration claim is the better option. Typically:
- FINRA Arbitration is often more suitable for investors with losses exceeding $100,000.
- Class Action Lawsuits are usually pursued when numerous investors have small claims that are impractical to litigate individually.
Frequently Asked Questions (FAQ)
1. What did William Shane Garrow do wrong?
William Shane Garrow, a former BOK Financial advisor, reportedly pleaded guilty to embezzling more than $4.2 million from client accounts over a 12-year period. He allegedly covered up the theft by shifting funds between accounts and providing false explanations to clients.
2. Can I recover money I lost while working with Garrow or BOK Financial?
Possibly. If BOK Financial failed to properly supervise Garrow, the firm may be liable for your investment losses. Investors may be able to recover damages through a FINRA arbitration claim.
3. What is the difference between a FINRA arbitration and a class action lawsuit?
FINRA arbitration is typically a better option for individual investors with larger losses (often over $100,000), while class actions are more common for smaller, widespread claims involving many investors.
FINRA Lawsuits
If you have suffered investment losses with William Shane Garrow and BOK Financial, the securities attorneys at the White Law Group may be able to help you by filing a FINRA lawsuit. Please call our offices at (888) 637-5510 for a free consultation. We represent investors in all 50 states including Oklahoma.
National Securities Attorneys
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington.
Our attorneys have recovered millions of dollars from many broker-dealers across the country.
The Financial Industry Regulatory Authority (FINRA) operates the largest securities dispute resolution forum in the United States, and has extensive experience in providing a fair, efficient and effective venue to handle a securities-related dispute.
Last modified: May 6, 2025
