former county treasurer arizona He pleaded guilty to embezzlement, money laundering and tax evasion for stealing more than $38 million in county funds from 2014 to 2024 and failing to pay more than $13 million in income taxes on the stolen money.
According to court documents: Elizabeth Gutfahr, 62, person who served as santa cruz county treasurer From 2012 to 2024, he embezzled and laundered approximately $38 million in wire funds from. santa cruz county‘s Gutfahr opened an account directly in the name of a company he had set up to steal county funds.
Ms. Gutfahr then transferred the funds from these fraudulent business accounts to her personal account and used the funds to purchase real estate, pay for and renovate the family ranch, pay for livestock farming expenses, and at least Used to purchase 20 vehicles.
“Elizabeth Gutfahr stole $38 million from the people of Santa Cruz County, Arizona, during her 12 years as Treasurer of that county.” Nicole M. Argentieri, Assistant Attorney Generalhead of Department of Justice, Criminal Division. “We expect public servants to serve as stewards of government finances, but that is not plunder. I proved once again that I am.”
“Local property taxes fund our communities, enrich our schools, and shape our future.” U.S. Attorney Gary Restaino for arizona. “In the plea agreement, the defendant admits that he defrauded the county by embezzling tax dollars. We look forward to working with the administrator appointed by the Superior Court to recover the county’s funds.” ”
“Today’s guilty plea is a reminder that those entrusted with public funds are not above the law.” Assistant Director Chad Yarbrough of FBI Criminal Investigation Bureau. “Gutfahr intentionally calculated a scheme to embezzle taxpayers’ money and launder those funds for personal use. This breach of trust not only deprives taxpayers of property, but also deprives them of public office. It undermines integrity. The FBI remains steadfast in holding accountable those who use their position for their own selfish purposes.”
“We cannot stress enough that we are committed to eradicating public corruption from our communities.” Special Agent in Charge Carissa Messick for IRS Criminal Investigation Phoenix Branch. “I am proud of the dedication of IRS-CI Special Agents, along with our law enforcement colleagues, in investigating this case. They stole money from voters. This guilty plea serves as a reminder to all who are tempted to use their positions of power to enrich themselves at the expense of the American people. Please let me know. Our special agents are experts in tracking funds and we will continue to investigate these allegations of fraud at all levels.”
Court documents say the scheme involved approximately 187 wire transfers in which Mr. Gutfer used the tokens of subordinate Santa Cruz County employees to subvert the two-step approval process for the wire transfers, and Mr. Gutfer This was completed by allowing users to both initiate and approve wire transfers.
To conceal this scheme, Gutfahr falsified accounting records, cash reconciliation records, and county investment account reports to conceal the millions of dollars he had stolen from Santa Cruz County. Mr. Gutfahr also failed to report the stolen funds as income for tax purposes.
Gutfahr pleaded guilty to one count of embezzlement by a public official, one count of money laundering, and one count of tax evasion. She is scheduled to be sentenced on February 6, 2025, and faces up to 10 years in prison for embezzlement, 20 years in prison for money laundering, and up to five years in prison for tax evasion. We will reimburse Santa Cruz County or other specified victims for all losses.
