Jerry Wayne Noles, a 61-year-old resident of Blanchard, Oklahoma, has been sentenced to 40 months in federal prison for his involvement in a bank fraud conspiracy. The announcement was made by U.S. Attorney Robert J. Troester.
Noles faced charges on September 9, 2024, when he was accused of conspiring to commit bank fraud. As per public records, Noles served as 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. However, Noles redirected $250,000 from this credit line into another account under his control and instructed an accomplice to transfer these funds to a local home builder’s account to finance the construction of his personal residence.
Additionally, Noles obtained a $1.2 million home construction loan from FNB despite having already used funds misappropriated from Coil Chem’s credit line for part of the home’s construction costs.
On September 10, 2024, Noles admitted guilt to the amended charges and acknowledged diverting $250,000 from Coil Chem’s credit line for his home project in Blanchard.
During the sentencing on May 28, 2025, U.S. District Judge Jodi W. Dishman imposed a sentence of 40 months in federal prison followed by two years of supervised release. Noles was also ordered to pay restitution amounting to $50,498.62. Judge Dishman emphasized the need for deterrence against similar offenses and highlighted that Noles’ actions were driven by greed and deception for personal gain.
The FBI Oklahoma City Field Office conducted the investigation leading to this case’s prosecution by Assistant U.S. Attorney Julia E. Barry.
Further details can be found in public filings related to this case.
