Arizona county treasurer pleads guilty to embezzling more than $38 million for personal expenses

On By Littum

A former county treasurer pleaded guilty on Thursday to charges of embezzlement from a public official, money laundering and tax evasion after stealing more than $38 million in county funds between 2012 and 2024 to renovate her ranches, buy at least 20 cars and pay for personal expenses for herself and her family .

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

“I transferred the Santa Cruz County funds from the county savings account and checking account for the purpose and as an essential part of the execution of the scheme to defraud to fraudulently obtain the funds for my personal use, all without authorization,” Gutfahr said. according to court documents. “I agree that I owe a refund of $38,712,100.00.”

Gutfahr also used fake business accounts to help hide the transfer of money from the Santa Cruz County bank account.

“These account names were materially false and fraudulent representations to intentionally conceal the fact that I wire transferred Santa Cruz County funds to my Wells Fargo and BMO accounts to embezzle county funds,” Gutfahr said, according to her plea agreement.

Gutfahr’s attorney said in a statement that Gutfahr wants to “take responsibility for the harm she has caused Santa Cruz County.”

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

Gutfahr’s plea shows the Justice Department’s commitment “to rooting out public corruption at all levels of government,” Deputy Director Nicole Argentieri. said.

“We expect public officials to serve as stewards of the government … not to plunder it,” Argentieri said.

Gutfahr, who has been released and had to surrender his passport, is scheduled to be sentenced on February 6, 2025. She could face up to 35 years in prison and pay restitution to Santa Cruz County and federal taxes in the amount of $13,143,526 for tax years 2014 through 2023.

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