Former county treasurer pleads guilty on thursday Embezzlement by a Public Official, Money Laundering for stealing more than $38 million in county funds from 2012 to 2024 to renovate a ranch, purchase at least 20 vehicles, and cover personal expenses for himself and his family. Ring was indicted on charges of tax evasion.

Elizabeth Gutfahr served as the elected treasurer of Santa Cruz County, Arizona from 2014 to April 12, 2024. During that time, she transferred funds from her Santa Cruz County bank account to her personal Wells Fargo and Montreal bank accounts. , according to court documents.

“I wired Santa Cruz County funds from county savings and checking accounts, all without authorization, as an integral part of a fraudulent scheme to fraudulently obtain funds for personal use. ” Gutfahr said. According to court documents. “I agree that I am liable for damages in the amount of $38,712,100.00.”

Gutfahr also used a fake business account to conceal the transfer of funds from a Santa Cruz County bank account.

“These account names were intentionally used to represent the fact that I was embezzling county funds by wire transfers of Santa Cruz County funds to Wells Fargo and BMO accounts,” Gutfahr said in his plea agreement. “It was a grossly false misrepresentation intended to conceal the facts.”

Gutfahr’s attorney said in a statement that Gutfahr “wants to be held accountable for the harm he has caused Santa Cruz County.”

“She knows that by pleading guilty and accepting the punishment that will result, she is taking a step in the right direction of taking responsibility for her actions,” Joshua Hamilton said. “She will strive to continue on that path for the rest of her life.”

Gutfahr’s plea demonstrates the Justice Department’s commitment to “rooting out public corruption at all levels of government,” said Principal Deputy Assistant Attorney General Nicole Argentieri. said.

“We expect public servants to serve as stewards of the government…not to rob the government,” Argentieri said. said.

Gutfahr was released and had to surrender his passport. a sentence is scheduled to be handed down She could face up to 35 years in prison and pay $13,143,526 in restitution to Santa Cruz County and federal taxes from tax years 2014 to 2023.

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