Ex-Santa Cruz Treasurer Accused of Embezzling $39 Million in Shocking Lawsuit

Santa Cruz County, Ariz. — Santa Cruz County has filed a lawsuit against former treasurer Elizabeth Gutfahr, alleging she embezzled over $39 million from the county.

According to a statement released Friday, the county’s supervisors initiated the lawsuit in Pima County, aiming to recover the stolen funds. They accuse Gutfahr of transferring money from the county’s accounts to corporate entities and bank accounts under her control. The lawsuit describes a decade-long scheme where Gutfahr allegedly used county funds to support an extravagant lifestyle.

The lawsuit claims that Gutfahr fabricated investment statements and strategically wired funds only at specific times of the year to avoid detection. County supervisors stated that a comprehensive internal review is ongoing with the assistance of external legal and forensic accounting professionals.

The fraudulent activities came to light in April when officials discovered 11 suspicious transactions totaling $375,000, prompting an FBI investigation. Gutfahr resigned from her position on April 12, citing health and personal reasons.

Despite the alleged financial misconduct, county officials emphasized their commitment to maintaining the day-to-day operations funded by the county.

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