Santa Cruz Treasurer Gets 10 Years for $39M Theft

Elizabeth Gutfahr, former Santa Cruz County Treasurer in Arizona, was sentenced to 10 years in federal prison after stealing approximately $38.7 million in public funds over a decade. She created fake companies, transferred county money to their accounts, and used the funds for personal real estate, vehicles, and her cattle business, while bypassing security protocols and falsifying records. Gutfahr pleaded guilty to embezzlement, money laundering, and tax evasion, and was ordered to pay $51.8 million in restitution to the county and U.S. Treasury, with an estimated $10–13 million in assets potentially recoverable. The embezzlement significantly harmed the county's ability to fund essential services, prompting local officials to call for stronger deterrence and efforts to restore public trust. Gutfahr's defense contended she was deluded into thinking she could repay the money. Recovery efforts for the stolen funds are ongoing.