A New York woman was charged on Wednesday with stealing as much as $12 million in gold bullion and jewelry over a period of six years, lifting the ill-gotten booty from her employer by concealing the stash in the lining of her pocketbook.
The district attorney for New York City's borough of Queens said Teresa Tambunting, 50, was arraigned on Wednesday on charges of first-degree grand larceny and first-degree criminal possession of stolen property from Jacmel Jewelry Inc.
"The defendant is accused of establishing a virtual mining operation ... which siphoned off millions of dollars worth of the precious metal from her employer," Queens District Attorney Richard Brown said in a statement.
In January, an inventory audit conducted at Jacmel revealed that nearly 850 pounds of gold merchandise worth about $12 million was unaccounted for, Brown's statement added.
After an investigation was initiated, Tambunting returned to Jacmel a suitcase containing 66 pounds of gold. On Feb. 13, 448 pounds of gold was recovered from Tambunting's residence, the DA said.
Jack Rahmey, Jacmel's president, declined to comment.
Spot gold traded at around $890 an ounce on Thursday.
Theft is a serious crime that can earn you time in jail. When you take a person’s property without their permission, you’re legally committing theft. You’re either charged with grand theft or petty theft. These are the two categories under which other forms of theft are categorized. All theft cases involve stolen property, but the variations in severity affect the punishment. Here are some situations in which contacting a lawyer is recommended. Read more
A modern gentleman is the type of man that values class above anything else. Everything that he enjoys needs to be elegant, useful and of top quality. Sometimes, such a man seems like he has everything so it can be very hard to get him a gift that can rise to his standards. Read more
There are many relationships that come to an end because the couple did not take measures to try to repair things when they could. It’s important to realize that marriages take a lot of work to be successful and that there are times when extra steps need to be taken to rebuild a marriage. Read more