An El Dorado Hills woman pleaded guilty Monday, Nov. 2, to one count of wire fraud for stealing nearly $18 million from her employer, a retired Bay Area venture capitalist, the Folsom Times reported, citing the U.S. Attorney's Office for the Eastern District of California.
Lizbeth Guadalupe Sherman, 47, worked as an executive assistant and paid her employer's credit card bills, with access to the employer's bank account. Between September 2015 and May 2025, prosecutors said, she used that access to pay her own credit card expenses.
The money went to designer handbags, Rolex watches, resort vacations, private jet travel, vehicles and improvements to her roughly $2 million home, SFGATE reported. She also resold luxury items online and made more than $450,000 on one platform in nine months, prosecutors said. A December search turned up 1,500 luxury items, "most in mint condition with original packaging and tags intact."
Sherman is scheduled to be sentenced in March 2027. She faces up to 20 years in prison and a $250,000 fine, and under her plea agreement must pay about $18 million in restitution.