PHOENIX — A former Santa Cruz County treasurer pleaded guilty Thursday to federal charges for embezzling nearly $40 million in county funds while in office, authorities said.
Elizabeth Gutfahr, 62, served as Santa Cruz County Treasurer from 2012 to 2024, but failed to pay more than $13 million in taxes during her tenure. Gutfahr allegedly transferred money from a county account to a fake business account to receive the money. United States Department of Justice.
Authorities said Gutfahr allegedly used the money to buy real estate, pay for and renovate his family’s ranch, finance a livestock operation, buy at least 20 cars, and transfer it to personal accounts. It is held.
“Elizabeth Gutfahr stole $38 million from the people of Santa Cruz County, Arizona during her 12 years as county treasurer. We expect public servants to serve as custodians of the government’s treasury. But it is not looting,” Nicole M. Argentieri, Principal Deputy Assistant Attorney General of the Justice Department’s Criminal Division, said in a press release.
How was the money stolen from Santa Cruz County?
Gutfahr’s scheme involved approximately 187 wire transfers, which she tampered with by tampering with a required two-step approval process using the tokens of county employees who worked for her. The remittance has been completed. This allowed Gutfahr to both initiate and approve wire transfers, authorities said.
Gutfahr allegedly falsified accounting records, cash reconciliation records and county investment account reports to conceal millions of dollars stolen from county accounts, according to the Department of Justice.
She pleaded guilty to one count of embezzlement by a public official, one count of money laundering, and one count of tax evasion.
“Today’s guilty plea is a reminder that those entrusted with public funds are not above the law. Gutfahr embezzled taxpayer money and used the funds for personal use. “This breach of trust not only deprives taxpayers of property, but undermines the integrity of public office,” FBI Criminal Investigation Deputy Director Chad Yarbrough said in a press release. mentioned in.
Getfal is scheduled to be sentenced by a federal district judge on February 6th. If convicted on all charges, she could face up to 35 years in prison, as well as restitution to Santa Cruz County.
