Tulsa Bizman Sentenced for $2.7M Bank Fraud

TULSA, Okla. — The grimy halls of justice were echoing with the sentence of Tommy Craig Conaway, a former Tulsa businessman, who was handed 27 months behind bars for his deceitful maneuvers that defrauded ONB Bank out of more than $200,000, according to the Department of Justice USAO.

Conaway, now residing in Blackwell, pleaded guilty to bank fraud charges, admitting to misrepresenting the value of collateral for CCR Investments, LLC, which he used as leverage against ONB Bank’s credit line. The fraudulent act took place in February 2004.

But this wasn’t the end of Conaway’s financial shenanigans. U.S. District Court Chief Judge Gregory K. Frizzell also accounted for other instances where Conaway duped ONB Bank by presenting false collateral, and his deceitful dealings with The Bank of Oklahoma (BOK), which resulted in a loss of nearly $2.5 million for the institution.

Frizzell’s sentence was severe, ordering Conaway to pay over $2.7 million in restitution to both banks. In addition to the prison term, the court demanded the forfeiture of $290,962 from Conaway.

The meticulous investigation into Conaway’s fraudulent activities was spearheaded by the Federal Bureau of Investigation, with Assistant United States Attorneys Kevin C. Leitch, Jeffrey A. Gallant, and Catherine Depew prosecuting the case to its just conclusion.