Leopold woman pleads guilty to bank fraud

Crystal Renee Elfrink of Leopold, Mo., pleaded guilty to a felony count of bank fraud on Monday, according to the United States Attorney's Office Eastern District of Missouri.

Elfrink was a trustee and had power of attorney for Loretta Elfrink, her aunt by marriage. who was retired and living in Bollinger County.

In October 2009, Loretta Elfrink had money invested with the Commerce Bank, Northwestern Mutual Life Insurance Company, Edward Jones and Wells Fargo Advisors.

The agreement allowed Crystal Elfrink to conduct transactions on behalf of Loretta Elfrink and stipulated she was to have no personal gain from the transactions. Crystal Elfrink filed documents with the institutions to inform each that she would be making withdrawals to pay for the aunt's needs.

Northwestern Mutual, Edward Jones and Wells Fargo began to allocate funds, which Crystal Elfrink placed in Loretta Elfrink's bank account.

With the plea, Crystal Elfrink admitted that she made cash withdrawals and charged purchases directly to the account knowing her representations were false and that she intended to convert some of the funds for her personal benefit. Crystal Elfrink, whose actions created a financial loss in excess of $120,000, faces a maximum punishment of 30 years in prison and a $1 million fine. Her sentencing will be March 25.

Pertinent address:

Leopold, Mo.