Arizona County Treasurer Admits to $38 Million Embezzlement Scheme

Elizabeth Gutfahr pleads guilty to charges of embezzlement, money laundering, and tax evasion after a decade-long misuse of public funds.

Elizabeth Gutfahr, former Santa Cruz County treasurer, admitted to embezzling $38 million of taxpayer funds between 2014 and 2024.
She used the stolen money to finance personal expenses, including ranch renovations, 20 vehicles, and other luxury items.
Gutfahr falsified records and used fake business accounts to conceal nearly 190 unauthorized wire transfers to her personal accounts.
Approximately 75% of the embezzled funds came from school district budgets, leaving local schools facing significant financial deficits.
Gutfahr faces up to 35 years in prison and owes $38.7 million in restitution, with sentencing scheduled for February 6, 2025.