According to FBI reports, former Tiffany & Co VP of product development, Ingrid Lederhaas-Okun, 46, was arrested on Tuesday 2 July accused of stealing diamond bracelets, earrings and pendants. The alleged thefts took place between January 2011 and February this year.
The jewellery pieces were discovered missing the day after Lederhaas-Okun was terminated by Tiffany & Co as part of a downsizing operation within the company.
According to reports, Lederhaas-Okun's role allowed her to borrow jewellery for work-related purposes, like showing pieces to potential manufacturers to estimate the costs of production.
She was also able to "write off" or cancel the cost of inventory that had been rendered unusable, but such items were usually returned to the company's stock and destroyed.
Instead, she allegedly sold the pieces, claiming them as her own.
When Tiffany & Co discovered that jewellery was missing during an inventory review, the company contacted Lederhaas-Okun who allegedly said the jewellery was in an envelope in her desk drawer. The envelope was not discovered.
According to authorities, Lederhaas-Okun sold the items to a leading international jewellery buyer and reseller based in New York. More than 75 payments were made to Lederhaas-Okun and her husband, ranging from US$7,525 to US$47,400 (A$8,213 to A$51,734).
Authorities also suggest a friend of Lederhaas-Okun helped facilitate the transactions.
The jewellery in question includes 18-carat gold diamond bracelets, platinum and gold diamond drop-and-hoop earrings, platinum diamond rings, and platinum and diamond pendants, the authorities said.
Lederhaas-Okun’s alleged crimes carry a maximum of 20 years in prison. She was released on US$250,000 (A$275,000) bail and is scheduled to appear in court on Tuesday 9 July.
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