Arizona Treasurer Admits to $38M Embezzlement Scheme

Elizabeth Gutfahr, former treasurer of Santa Cruz County, Arizona, pleaded guilty to embezzling over $38 million in county funds for personal use, including ranch renovations and car purchases. She admitted to transferring funds to personal accounts and using fake business accounts to conceal the theft. Gutfahr faces up to 35 years in prison and must pay restitution and federal taxes. Her plea highlights the Justice Department's focus on combating public corruption.