LAFAYETTE, La. – Elizabeth Istre, the former bookkeeper for a Sulphur oil field company, has been convicted of stealing more than $4 million in a wire fraud scheme. The 51-year-old from Sulphur was found guilty on three counts of wire fraud after a trial that concluded its four-day run.
The jury, following approximately one hour of deliberation, returned the guilty verdict before U.S. District Judge Donald E. Walter. Evidence presented showed that Istre, who worked for a family-owned petroleum company in Sulphur from 2004 to January 2014, fraudulently issued over 800 checks, totaling in excess of $4 million, into her and her husband’s accounts.
Istre began the fraudulent check scheme shortly after joining the company in 2004. Initially small in amount, the checks grew in value, reaching half a million dollars annually by 2011. As the sole user of the business’ software, Istre was able to provide false financial statements directly to the company’s accountant, masking her thefts amidst industry fluctuations. The stolen funds were used for personal expenses, including vehicle purchases, trips, bill payments, property acquisitions, and family member support.
With a career in white-collar crime stretching nearly a decade, Istre faces a maximum sentence of 20 years in prison, five years of supervised release, restitution, and fines totaling up to $250,000 for each count. She remains detained pending sentencing, with no date set by the court as yet.
The investigation was conducted by the U.S. Secret Service, with Assistant U.S. Attorneys Kelly P. Uebinger and Dominic A. Rossetti handling the prosecution of the case.
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Key Facts
- State: Louisiana
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|White Collar Crime|Organized Crime
- Source: Official Source ↗
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