Elk River Man Pleads Guilty to Bank Robbery

A 23-year-old Elk River man pleaded guilty today in federal court to robbing the Bank of Elk River on June 17.

Joshua Gene Paulson pleaded guilty to one count of bank robbery. He entered his plea in Minneapolis before United States District Court Chief Judge Michael Davis. Paulson was indicted on July 13.

According to Paulson’s plea agreement, he admitted taking $4,089 from the bank located at 846 Freeport Ave.

According to a Federal Bureau of Investigation affidavit, the bank was robbed at approximately 9 a.m. The robber, later identified as Paulson, walked in the bank and sat down in a chair near the main doors. Then Paulson approached a teller and said he was wearing bandages over his face because he had been in an accident. Paulson requested help filling out a withdrawal slip, and when the teller gave him a slip, Paulson gave the teller a note that stated, “Don’t say a word, put the money in the bag.”

Paulson gave the teller a white, plastic bag and fled the bank after receiving the cash. He fled south on a mountain bike.

Police spotted Paulson wearing a backpack and riding the bicycle at the intersection of Fourth Street and King Avenue. After Paulson saw the officers, he jumped off the bike and began running. He was apprehended. Inside the backpack officers found clothing that matched those worn by the robber and the cash inside the plastic bag.

Paulson faces a potential maximum penalty of 20 years in prison. Judge Davis will sentence Paulson at a future date. This case is the result of an investigation by the FBI and the Elk River Police Department. It is being prosecuted by Assistant U.S. Attorney Kimberly A. Svendsen.