The Largest Employee Fraud Cases in 2025–2026

Key Takeaways

• The largest scheme involved a former CFO at the Detroit Riverfront Conservancy, who embezzled over $40 million over more than a decade.
• The second-largest embezzlement scheme, totaling $38 million, was carried out by Santa Cruz County’s treasurer, Elizabeth Gutfahr. She wired county funds into accounts she had created for fake companies. 
• In many instances, employees in trusted financial roles were able to exploit weak internal controls. Often, they operated undetected for years while diverting funds.