A Michigan woman who received an award from former President Joe Biden in 2024 is now facing federal wire fraud charges after prosecutors accused her of using a series of false identities and business claims to persuade victims to hand over millions of dollars.
Now, her image and details of the federal case have been spreading across social media, with users reacting to the allegations, her claimed diplomatic identity and the contrast between her public image and the accusations outlined in court records.
Shannon Monet Steel was arrested by the FBI on September 1 and charged with wire fraud. Federal prosecutors allege that Steel presented herself as a banker, hotel owner and ambassador for the Central African Republic while offering victims access to large loans through businesses including Steel Private Bank.
According to prosecutors, at least eight people were deceived into providing about $1.5 million in what were described as “good faith” escrow payments. Prosecutors allege that the promised loans never materialized in several cases and that some of the money was instead used for Steel’s personal expenses.
The allegations took an unusual turn because of Steel’s claimed diplomatic status. An FBI agent’s affidavit said investigators determined that Steel was not an accredited diplomat representing any country in the United States and did not work for the U.S. government as an ambassador or diplomat.
The investigation also found no U.S. bank registered in Steel’s name or a bank insured by the Federal Deposit Insurance Corporation, according to court records.
Prosecutors allege that Steel used her public image and social media presence to build credibility with potential victims. Her online posts included motivational messages about her personal struggles, success and business achievements, according to the records.
One alleged victim, a California businessperson, wired Steel $200,000 in February after being presented with documents that supposedly provided access to millions of dollars in investment funds. Among the documents was a Deutsche Bank confirmation letter that purported to show an account holding more than 300 million euros.
Investigators later contacted Deutsche Bank, which determined that the letter was fraudulent and that the referenced account did not belong to Steel or any of her companies, prosecutors said.
Another alleged victim from Ohio paid $250,000 in November while seeking a $5.4 million loan. Prosecutors said the victim received neither the promised loan nor a refund of the money.
In another case, a Texas entrepreneur allegedly transferred $350,000 while seeking more than $5 million to purchase and renovate commercial property. According to prosecutors, that loan also never arrived, and the entrepreneur sought repayment of the escrow money.
Federal prosecutors also allege that Steel moved some of the money received from victims into personal accounts and used it for expenses.
The spending described in court documents ranged from luxury purchases and international travel to ordinary household and entertainment expenses.
Steel allegedly spent more than $56,000 to rent a home in Northville Township and used money prosecutors believe came from victims to pay personal credit card bills.
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She also allegedly purchased plane tickets to Paris and Los Angeles and acquired luxury vehicles, including a 2022 Maserati Levante SUV. Investigators also photographed a 2013 Bentley coupe associated with Steel. The vehicle could have cost more than $200,000 when new.
In one Facebook video cited by investigators, Steel was shown getting out of a white Bentley while carrying an orange Hermès backpack. Investigators estimated the backpack’s value at about $15,000. The video used the James Bond theme.
The alleged spending was not limited to luxury items. Prosecutors cited restaurant purchases, grocery expenses, nail salon visits and entertainment charges. Court records included a $10.99 Peacock subscription and $188 in Lyft and taxi or limousine charges in Europe.
During one three-week period in November, Steel allegedly spent about $170 on food from Twin Peaks and another $169 at Detroit restaurant La Lanterna. She also allegedly paid $3,000 to a law firm and $136 at a Southfield nail salon.
Assistant U.S. Attorney K. Craig Welkener told the court that Steel had allegedly defrauded victims of at least $1.05 million and was continuing to use their money for expenses.
“The evidence that Steel is dissipating the proceeds of wire fraud and money laundering is overwhelming,” Welkener wrote in court documents.
The government also alleged that Steel used multiple companies and an attorney trust account to obscure her control of the money. Prosecutors said she sometimes repaid people after they became suspicious, which they characterized as part of the alleged effort to conceal the scheme.
The federal investigation reportedly began after a reporter contacted the State Department’s Diplomatic Security Service to check Steel’s claimed diplomatic credentials.
Her connection to Biden is also addressed in the court records. Steel had publicly showcased an award she received from Biden in 2024. Prosecutors did not allege that the award itself was fraudulent. The records indicate that Steel legitimately received the recognition.
Steel’s attorney, Steven Scharg, told The Detroit News that his client maintains her innocence.
“My client maintains her innocence,” Scharg said. “There is a voluminous amount of discovery that I am going through at this time, and I am not in a position to make any statements.”
Federal prosecutors sought to prevent Steel from moving or spending assets they said were connected to the alleged fraud. A judge granted a preliminary injunction on September 23 covering dozens of companies linked to Steel, along with bank accounts, jewelry, vehicles and other assets.
Steel was released on a $10,000 unsecured bond.
She faces up to 20 years in federal prison if convicted of wire fraud. The charges are allegations, and Steel is presumed innocent unless proven guilty in court.