Robert J. "Bob" Troester U.S. Attorney | U.S. Attorney for the Western District of Oklahoma
Jerry Wayne Noles, a 61-year-old resident of Blanchard, Oklahoma, has been sentenced to 40 months in federal prison for his role in a bank fraud conspiracy. The announcement was made by U.S. Attorney Robert J. Troester.
Noles faced charges on September 9, 2024, with an Amended Information accusing him of conspiring to commit bank fraud. Records show that Noles was the managing partner of Coil Chem LLC, a chemical manufacturing firm located in Washington, Oklahoma. On January 27, 2015, he secured a $690,000 revolving line of credit from First National Bank (FNB) intended for Coil Chem's operating expenses. Instead, Noles redirected $250,000 from this credit line into another account he controlled and instructed a coconspirator to transfer these funds to a local home builder's account to finance the construction of his new home.
Furthermore, despite using part of the credit line for personal use, Noles obtained a $1,200,000 home construction loan from FNB under false pretenses.
On September 10, 2024, Noles admitted guilt to the charges and acknowledged his involvement in diverting company funds for personal benefit.
During the sentencing on May 28, 2025, U.S. District Judge Jodi W. Dishman sentenced Noles to serve time in federal prison followed by two years of supervised release. He was also ordered to pay restitution amounting to $50,498.62. Judge Dishman emphasized the importance of deterring similar crimes and highlighted that greed and deception motivated Noles' actions.
The case was investigated by the FBI Oklahoma City Field Office and prosecuted by Assistant U.S. Attorney Julia E. Barry.
For further details about this case, refer to public filings.
