A former county treasurer pleaded guilty on Thursday to embezzlement, money laundering and tax evasion after stealing more than $38 million in county funds between 2012 and 2024 to renovate his farms, buy 20 vehicles and pay personal expenses. for him and his family.
Elizabeth Gutfahr served as the elected treasurer of Santa Cruz County, Arizona, from 2014 to April 12, 2024. During that time, she transferred money from Santa Cruz County bank accounts to her personal Wells Fargo Bank account and Bank of Montreal account. , according to court documents.
“I transferred Santa Cruz County funds from the County’s Savings Account and Checking Account for the purpose and as an integral part of a fraudulent scheme to obtain fraudulent funds for my own use, all without authorization,” Gutfahr said. according to court documents. “I acknowledge that I owe restitution in the amount of $38,712,100.00.”
Gutfahr also used fake business accounts to help hide money transfers from Santa Cruz County bank accounts.
“The names of these accounts were fictitious and fictitious to conceal the fact that I was transferring Santa Cruz County funds to my Wells Fargo and BMO Accounts to defraud the County,” Gutfahr said, according to his plea.
Gutfahr’s attorney said in a statement that Gutfahr wants to “take responsibility for the damage he caused to Santa Cruz County.”
“He knows that by pleading guilty, and accepting the punishment he will face as a result, he is taking a direct step to take responsibility for his actions,” Joshua Hamilton said. “He will work to stay on that path for the rest of his life.”
Gutfahr’s request reflects the Justice Department’s commitment to “rooting out public corruption at all levels of government,” said Deputy Assistant Attorney General Nicole Argentieri.
“We expect civil servants to act as stewards of the government … not to steal it,” Argentieri said.
Gutfahr, who was released and had to surrender his passport, is scheduled to be sentenced on February 6, 2025. He faces up to 35 years in prison and must pay Santa Cruz County and state taxes totaling $13,143,526. for tax years 2014 to 2023.
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