Elizabeth Gutfahr, the former elected treasurer of Santa Cruz County, Arizona, has pleaded guilty to embezzlement, money laundering, and tax evasion after stealing over $38 million in county funds between 2012 and 2024.
Gutfahr, who served as the county treasurer from 2014 until April 12, 2024, admitted to transferring large sums of county money into her personal accounts to fund her ranch renovations, buy at least 20 cars, and cover various personal expenses for herself and her family.
According to court documents, Gutfahr transferred funds from Santa Cruz County’s savings and checking accounts into her Wells Fargo and Bank of Montreal accounts. She used fake business accounts to disguise the transfers, making the scheme more difficult to trace.
“I wire transferred the Santa Cruz County funds from the County’s Savings Account and Checking Account for the purpose and as an essential part of carrying out the scheme to defraud to fraudulently obtain the funds for my personal use, all without authorization,” Gutfahr stated in her plea agreement. “I agree I owe restitution in the amount of $38,712,100.00.”
Gutfahr’s attorney, Joshua Hamilton, issued a statement acknowledging that Gutfahr intends to take full responsibility for her actions. “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 accountable for her actions,” Hamilton said.
The Justice Department emphasized its commitment to rooting out public corruption, with Principal Deputy Assistant Attorney General Nicole Argentieri stating, “We expect public officials to serve as stewards of the government … not to loot it.”
Gutfahr faces up to 35 years in prison and is scheduled for sentencing on February 6, 2025. She will also be required to pay restitution of $38,712,100.00 to Santa Cruz County, along with federal taxes amounting to $13,143,526 for the years 2014 through 2023.