# Former assistant admits stealing nearly $18m from retired venture capitalist

- URL: https://talkfuse.com/story/brazen-bay-area-executive-assistant-managed-to-steal-18m-from-her-venture-capitalist-employer-and-lavish-cash-on-private-jets-and-rolexes-before-she-got-caught/
- Published: 2026-11-03T19:45:37+00:00
- Updated: 2026-11-03T20:07:39+00:00
- Original publisher: Daily Mail (publisher lean: Right)
- Original article: https://www.dailymail.com/news/article-16262107/Bay-Area-executive-assistant-fraud-18million.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
- Topics: Culture, Fashion, Travel, World

## Key points

- Former assistant pleaded guilty to taking nearly $18 million.
- She used her employer’s accounts to pay personal expenses.
- Investigators found more than 1,500 luxury items at her home.

## Summary

Lizbeth Guadalupe Sherman, a former executive assistant to a retired Bay Area venture capitalist, has pleaded guilty to wire fraud after taking nearly $18 million from her employer over about ten years. The case shows how she used her access to his accounts to disguise personal spending as payment of his expenses.

Court filings say she diverted $13.7 million from one credit card and $4.4 million from another, funding a $2 million home, travel and luxury purchases. Investigators found more than 1,500 designer items at her home in December 2025, including Rolex watches and Birkin bags; she also made over $450,000 reselling stolen-funded goods on one platform in nine months.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.