Elizabeth Gutfahr, former Santa Cruz County Treasurer pleads guilty to embezzling nearly $40 million

NOGALES, Ariz. - Former Santa Cruz County Treasurer Elizabeth Gutfahr will let a judge decide what's next for her after pleading guilty to three felonies for stealing nearly $40 million from the county over 10 years.

In front of a room full of Santa Cruz County elected officials and a district court judge, Gutfahr submitted her guilty plea, admitting the money was used to buy real estate, run various businesses and purchase at least 20 vehicles. 

Gutfahr is scheduled to be sentenced on Feb. 6.

The case has sparked discussion on how Santa Cruz County handles its finances moving forward.

Some residents believe the county board should have a better handle on where the money is going.

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The general sentiment is that the county treasurer has too much unmitigated control.

Gutfahr pled guilty to embezzlement, money laundering and tax fraud.

Her plea agreement did not specify a sentencing range, but Gutfahr owes approximately $38.7 million, more than $10 million in taxes and additional fines.

The sentencing could range anywhere from probation to decades of prison time.