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Tiffany & Co. Executive Found Guilty of Stealing and Selling At Least $2 Million Worth of Jewelry

By Maxine Wally | Dec 23, 2013 01:18 PM EST

Tiffany & Co.
Tiffany & Co. former vice-president, Ingrid Lederhaas-Okun, was arrested by the FBI for allegedly stealing more than $1 million worth of jewelry. (Photo : Reuters)

A former executive at Tiffany & Co. was found guilty of stealing at least $2 million worth of jewelry from the famed stone purveyor's 5th Avenue location.

Ingrid Lederhaas-Okun was sentenced to one year and a day in prison on Friday during her hearing at a New York City Federal Court, the Associated Press reported. 

Lederhaas-Okun was arrested earlier this year at her home in Darien, Connecticut, after Tiffany officials realized over 164 items in the executive's care had gone missing. 

Lederhaas-Okun worked as vice president of product development, which granted her the authority to "check out" pieces for manufacturers and calculate production costs. But after the former exec left Tiffany & Co. in February, authorities at the 176-year-old company realized most of the pieces were never returned.

The criminal complaint listed "numerous diamond bracelets in 18-carat gold; diamond drop and hoop earrings in platinum or 18-carat gold; diamond rings in platinum; rings with precious stones in 18-carat gold; and platinum and diamond pendants" as missing.

When authorities asked Lederhaas-Okun about the lost pieces, she said she'd left some of them at the Tiffany store, and that a few pieces had been damaged. But following a probe into the missing items, officials realized that the former exec had, in fact, sold the jewelry to a dealer for more than $2 million. 

The unidentified dealer reportedly wrote 75 checks to Lederhaas-Okun and her husband for up to $47,400 at a time, according to CBS News.  

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