An El Dorado Hills woman pleaded guilty Monday to stealing nearly $18 million from her employer over nearly a decade, federal prosecutors said.
Lizbeth Guadalupe Sherman, 47, worked as an executive assistant to a retired Bay Area venture capitalist and had access to the employer’s bank account to pay credit card bills, according to the U.S. Attorney’s Office for the Eastern District of California.
Prosecutors said she used that access to cover her own expenses from September 2015 through May 2025.
Sherman spent tens of thousands of dollars on luxury handbags, Rolex watches, vacations, private jet travel, vehicles and improvements to a $2 million home in El Dorado Hills, a suburb of Sacramento, prosecutors said.
She also resold some of the designer goods bought with her employer’s credit cards, converting the purchases into cash, authorities said. She earned more than $450,000 on one online platform over nine months in 2025, according to the U.S. Attorney’s Office.
When law enforcement searched Sherman’s home in December 2025, they found more than 1,500 luxury items, many still in their original packaging, prosecutors said. The items included Louis Vuitton handbags, Christian Louboutin boots and bags made from exotic furs.
As part of her plea agreement, Sherman is subject to forfeiture and restitution of nearly $18 million to her employer, who authorities did not identify. She pleaded guilty to one count of wire fraud…