A California woman who stole nearly $18 million from her boss has pleaded guilty, federal prosecutors said Monday.
Beginning in September 2015, Lizbeth Guadalupe Sherman of El Dorado Hills worked for a Bay Area venture capitalist as an executive assistant, the U.S. Attorney’s Office in the Eastern District of California said in a news release. For the next decade, Sherman, who was responsible for paying her boss’s credit card bill and had access to her employer’s bank account, used both arrangements to fund “extravagant” expenses for herself.
The attorney’s office said Sherman spent tens of thousands of dollars on luxury handbags, Rolex watches, vacations, private jet travel and vehicles. Prosecutors said she also used the money to improve a $2 million residence in El Dorado Hills.
Sherman, 47, then resold the designer purchases on online platforms to pocket the cash. In just nine months, she earned more than $450,000 on just one platform, the attorney’s office said…