TUCSON, Ariz. (KVOA) — Former Santa Cruz County, Arizona treasurer Elizabeth Gutfahr has been charged with embezzling more than $38 million from county funds over a 10-year period.

Gutfahr, who served as county treasurer from 2013 until he resigned in April 2024, is accused of transferring stolen funds from county accounts to personal business accounts. The funds were reportedly transferred between 2014 and March 2024, and nearly 200 wire transfers were used to conceal the theft.

Federal authorities say Mr. Gutfahr fraudulently circumvented a two-step approval process designed to prevent fraudulent wire transfers. She used her position to initiate and approve the transfer of public funds to accounts related to her real estate and consulting businesses.

The stolen money was used for a variety of things, including purchasing multiple properties, cars, and luxury goods. Authorities also allege that Mr. Gutfahr failed to report the stolen funds as income, evading approximately $13 million in taxes.

Gutfahr faces federal charges of embezzlement and money laundering, with prosecutors accusing her of using funds to cover up illegal activities.

The case remains under investigation by the U.S. Attorney’s Office and the FBI.

The full text of the federal document can be found below.