₹170 crore theft over 10 years: Woman spends employer’s money on Rolex watches, private jets, luxury handbags

What happened: Lizbeth Sherman, 47, of El Dorado Hills, California, pleaded guilty to federal wire fraud charges after admitting she stole nearly $18 million from her employer over 10 years. Key numbers: About $18 million (roughly ₹170 crore) taken between September 2015 and May 2025. About $450,000 earned reselling luxury goods last year. Why it matters: Prosecutors said she used bank account access given to her as an executive assistant to pay her own credit card bills, then resold designer products to convert purchases into cash.

Lizbeth Sherman, 47, of El Dorado Hills, California, pleaded guilty to federal wire fraud charges after admitting she stole nearly $18 million from her employer over 10 years.

Prosecutors said she used bank account access given to her as an executive assistant to pay her own credit card bills, then resold designer products to convert purchases into cash.