A Blanchard woman has been sentenced to 22 months in federal prison for her role in a pricey PPP loan scam, U.S. Attorney Robert J. Troester announced.
Sheri Lynn Vickery, 40, of Blanchard, was ordered to pay $727,300 in restitution for making a false statement to a financial institution, after she submitted a Paycheck Protection Program (PPP) loan application that contained false representations on behalf of Coil Chem LLC, a chemical manufacturing company based in Washington, Oklahoma.
According to public record, from April 2020 through December 2021, Vickery worked as an office manager for Coil Chem. On April 7, 2020, she submitted the application for a PPP loan guaranteed by the Small Business Administration (SBA). The PPP was a COVID-19 pandemic relief program that provided forgivable loans to small businesses for job retention and certain other expenses.
The indictment alleges that Vickery inflated Coil Chem’s total payroll costs and misrepresented what the PPP loan proceeds would be used for, ultimately causing $727,300 to be transferred into Coil Chem’s operating bank account. Vickery then used the proceeds for impermissible purposes, including to pay off a family member’s personal debts.
Vickery pleaded guilty on September 10, 2024, and admitted she knowingly submitted a PPP loan application that contained false representations. U.S. District Judge Jodi W. Dishman sentenced Vickery to serve 22 months in federal prison, followed by 2 years of supervised release, and ordered Vickery to pay $727,300 in restitution.
This case is the result of an investigation by the FBI Oklahoma City Field Office. Assistant U.S. Attorney Julia E. Barry prosecuted the case. Reference is made to public filings for additional information.
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Key Facts
- State: Oklahoma
- Agency: DOJ USAO
- Category: White Collar Crime
- Source: Official Source ↗
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