A former county treasurer pleaded guilty on Thursday to charges of embezzlement by 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 through April 12, 2024. During some of that time, she transferred funds from Santa Cruz County bank accounts to her personal Wells Fargo Bank account and a Bank of Montreal account, according to court documents. “I agree I owe restitution in the amount of $38,712,100.00.”Advertisement AdvertisementGutfahr also used fake business accounts to help conceal the transfer of funds from the Santa Cruz County bank account. She could face up to 35 years in prison as well as paying restitution to Santa Cruz County and federal taxes in the amount of $13,143,526 for the tax years 2014 through 2023.

Source: CNN November 24, 2024 22:16 UTC