PHOENIX – The former treasurer of Santa Cruz County has admitted to a federal charge involving the embezzlement of nearly $40 million in county funds during her time in office, according to officials.

Elizabeth Guffer, 62, held the position from 2012 to 2024 and reportedly failed to pay over $13 million in taxes while serving. It is alleged that she transferred money from the county account to a fraudulent company account for her own benefit, as stated by the U.S. Department of Justice.

Authorities claim that Guffer used the stolen money to purchase real estate, pay for family ranch expenses, fund cattle businesses, and buy at least 20 cars, essentially wiring funds to her personal accounts.

“Elizabeth Guffer took $38 million from the residents of Santa Cruz County, Arizona. She was in office as treasurer for 12 years, a role that demands trust and responsibility,” said officials.

What about the money stolen from Santa Cruz County?

Guffer’s fraudulent activities involved approximately 187 wire transfers, which she completed by bypassing the required two-step approval process through forged tokens from her colleagues. This method enabled her to initiate and confirm the transactions, according to authorities.

It is reported that she also fabricated accounting records and cash settlement statements for her county investment accounts to conceal the significant amounts she had misappropriated.

She pleaded guilty to one count of embezzlement, one count of money laundering, and one count of tax evasion.

“Today’s guilty plea serves as a reminder that those entrusted with public funds are accountable under the law. Guffer misused taxpayer dollars and intricately plotted a scheme to launder the embezzled funds for personal gain,” officials stated.

A federal district judge is set to pronounce her sentence on February 6. If convicted of all charges, she could face a maximum penalty of 35 years and be required to compensate Santa Cruz County.