Former Tiffany VP Sentenced To Year In Prison For Stealing $2M In Jewelry

Dec 24 2013, 3:32pm CST | by

Ingrid Lederhaas-Okun, a former VP of design & product development at Tiffany & Co., was sentence to a year and a day in prison for stealing $2.1 million in jewelry from her employer.

Lederhaas-Okun, 47, of Darien, Conn., was sentenced Monday in Manhattan federal court by U.S. District Judge Paul G. Gardephe. She previously pled guilty for the theft, which occurred over a four-month period, in July. In addition to the prison term, she was sentenced to one year of supervised release, ordered to forfeit more than $2.1 million pay and more than $2.2 million in restitution, according to the US Attorney’s Offiise for the Southern District of New York, which prosecuted the case.

Under her duties and responsibilities at Tiffany, Lederhaas-Okun had the authority to check out jewelry belonging to Tiffany for work-related reasons. Between November 2012 and February 2013, she admitted to checking out more than 165 pieces of jewelry with a retail value of more than $1.2 million, including diamond bracelets, platinum or gold diamond drop and hoop earrings, platinum diamond rings, and platinum and diamond pendants. She then sold some if not all of this jewelry for $1.3 million to another company in Manhattan, who the US Attorney’s office and the court haven’t named. It’s also unclear whether the company knew it was purchasing stolen jewelry.

To conceal her theft, she repeatedly made false statements to Tiffany, according to court documents. For example, after her termination in February 2013, she told company representatives that she had only recently checked out the missing jewelry in anticipation of creating a PowerPoint presentation. However, the missing jewelry had been checked out months earlier, her supervisor was unaware of any such presentation being worked on by her and there was no presentation on her computer. In addition, she claimed the stolen jewelry could be found in a white envelope in her office, but a search of her office shortly after her departure did not yield any such envelope.

“With today’s sentence, Ingrid Lederhaas-Okun has learned the price she must pay for stealing millions of dollars worth of fine jewelry from her employer – loss of her liberty and forfeiture of her ill-gotten gains,” said U.S. Attorney Preet Bharara.

Please join me on the Jewelry News Network blog, the Jewelry News NetworkFacebook Page, and on Twitter @JewelryNewsNet.

Source: Forbes Business

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Complete fossil of small dinosaur found
Seoul, Nov 24 (IANS/EFE) South Korean paleontologists have found a complete fossil of a small dinosaur in rare condition, the first such discovery of its kind in the country, according to the National Research Institute of Cultural Heritage in Seoul.
 
 
Oman considers remittance tax on expats
Dubai, Nov 24 (IANS) The proposal for a two percent levy on the billions of rials that expatriates send home every year has been approved by Oman's Majlis al-Shura, or the lower house of the council of Oman, to overcome a budget deficit due to drop in oil prices, a media report said.
 
 
Russia to lose $40 bn a year due to sanctions: Minister
Moscow, Nov 24 (IANS/EFE) Western sanctions against Russia triggered by its actions in Ukraine will cost the country's economy $40 billion a year, Russian Finance Minister Anton Siluanov said Monday.
 
 
Excess of a protein may trigger schizophrenia
New York, Nov 24 (IANS) Overabundance of a protein in the brain cells during brain development may cause abnormalities in its structure and lead to schizophrenia, says a study.
 
 
 

Latest from the Network

Hamilton admits hardly sleeping the night before
Abu Dhabi, Nov 24 (IANS/CMC) Newly crowned Formula 1 World champion Lewis Hamilton has revealed he hardly slept the night before the season-ending Abu Dhabi Grand Prix which he eventually won to clinch his second...
Read more on Sport Balla
 
Real Madrid to play in Australian tournament
Melbourne, Nov 24 (IANS) Real Madrid, which boasts the most expensive squad in world football, have been announced as one of three teams to compete in the International Champions Cup in Melbourne in July. The...
Read more on Sport Balla
 
Cruzeiro win Brazil Serie A title
Belo Horizonte (Brazil), Nov 24 (IANS) Cruzeiro have clinched their second consecutive Brazilian Serie A title with a 2-1 victory over Goias. Everton Ribeiro struck the winner at the Mineirao stadium Sunday after...
Read more on Sport Balla
 
Honours shared in Milan derby
Rome, Nov 24 (IANS) Inter Milan have played out a 1-1 draw against crosstown rivals AC Milan in a sellout Serie A game. Jeremy Menez gave AC Milan a lead at halftime but Joel Obi equalised for Inter shortly after the...
Read more on Sport Balla
 
IOC chief condemns Afghan bombing
Lausanne, Nov 24 (IANS) International Olympic Committee President Thomas Bach condemned the suicide bombing at a volleyball tournament in Afghanistan. The lone bomber detonated explosives Sunday during a local...
Read more on Sport Balla
 
Marseille tops French league
Paris, Nov 24 (IANS) Marseille have climbed to the top of the French league after rallying to beat Bordeaux 3-1. With the victory, they now enjoy a one-point lead over Paris Saint-Germain. Bordeaux striker Thomas...
Read more on Sport Balla
 
New crew aboard Russian spaceship reach ISS
Washington, Nov 24 (IANS) Three new crew members from the US, Russia and Italy arrived Monday at the International Space Station (ISS) on board a Russian spaceship. Terry Virts of NASA, Soyuz Commander Anton...
Read more on Business Balla
 
Sears plans for big Black Friday 2014
Sears is looking foward to cashing in big time for the upcoming Black Friday 2014 shopping holiday on Novermber 28th. Members of Sears have seen their Black Friday specials start one week early and the company has...
Read more on Black Friday Countdown
 
Apple gears up for Black Friday
Black Friday is fast approaching and one company that plans on seeing a sales increase is Apple. Apple has announced that they will have discounted prices for the upcoming buying holiday and one product they plan on...
Read more on Black Friday Countdown
 
Thousands protest in Chile in favour of new constitution
Santiago, Nov 24 (IANS/EFE) Several thousand people took to the streets of Santiago and other Chilean cities to demand a Constitutional Assembly as a means to provide the country with a new constitution, as was...
Read more on Politics Balla