Former Tiffany executive admits stealing over $2million worth of jewellery

'I knew it was illegal to steal, and I did so regardless… I'm very sorry', she told a judge

Former Tiffany & Co vice-president, Ingrid Lederhaas-Okun, pleaded guilty in a New York federal court on Friday to stealing $2.1 million (£1.3 million) worth of jewellery from the fashion house in a case that has shaken the industry.

Appearing in federal court in Manhattan, Ingrid Lederhaas-Okun admitted she had stashed the jewellery in her home in Darien, Connecticut, where she was arrested earlier this month.

"I knew it was illegal to steal, and I did so regardless… I'm very sorry," she told a judge before pleading guilty.

Working in the high-end jewellery house since 1991, Lederhaas-Okun stole a total of 165 pieces, including diamond and gold rings, bracelets, earrings and pendants, in a period of 13 months.

She sold them to an international New York-based company that buys and resells jewellery. Other items were found in her home.

The 46-year-old has been charged with wire fraud and interstate transportation of stolen property.

According to WWD, she faces 46 months in prison following a plea agreement that will forfeit $2.1 million and restore $2.2 million. Her sentencing will take place on 10 December.

The theft was discovered when Tiffany undertook an in-depth inventory in November 2012. Lederhaas-Okun left the company by February this year and on 2 July was arrested.

The items included 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.

"Diamonds are forever but stolen diamonds are not," said Manhattan US attorney Preet Bharara in a statement on Friday.

"Over a period of years, Ingrid Lederhaas-Okun, an executive at a high-end jewellery company, looted her employer's jewellery inventory and then resold millions of dollars' worth of the merchandise in order to enrich herself. Today, she stands convicted for her thievery and faces the prospect of prison."

Authorities alleged Lederhaas-Okun purposely checked out items valued at under $10,000 apiece to avoid detection.

The company takes a daily inventory of all checked-out items worth more than $25,000.

She will be sentenced on 10 December.

News
A model of a Neanderthal man on display at the National Museum of Prehistory in Dordogne, France
science
News
Richard Dawkins dedicated his book 'The Greatest Show on Earth' to Josh Timonen
newsThat's Richard Dawkins on babies with Down Syndrome
Arts and Entertainment
Eye of the beholder? 'Concrete lasagne' Preston bus station
architectureWhich monstrosities should be nominated for the Dead Prize?
Extras
indybest
PROMOTED VIDEO
Life and Style
ebooksA superb mix of recipes serving up the freshest of local produce in a delicious range of styles
Life and Style
ebooksFrom the lifespan of a slug to the distance to the Sun: answers to 500 questions from readers
Travel
Dinosaurs Unleashed at the Eden Project
travel
Arts and Entertainment
music
Sport
football
Life and Style
This month marks the 20th anniversary of the first online sale
techDespite a host of other online auction sites and fierce competition from Amazon, eBay is still the most popular e-commerce site in the UK
News
i100
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs Fashion

    Quantitative Analyst (Financial Services, Graduate, SQL, VBA)

    £45000 per annum: Harrington Starr: Quantitative Analyst (Financial Services, ...

    Application Support Engineer (C++, .NET, VB, Perl, Bash, SQL)

    Negotiable: Harrington Starr: Application Support Engineer (C++, .NET, VB, Per...

    C# .NET Software Developer (Client-Side, SQL, VB6, WinForms)

    Negotiable: Harrington Starr: C# .NET Software Developer (Client-Side, SQL, VB...

    C# Developer (Genetic Algorithms, .NET 4.5, TDD, SQL, AI)

    £40000 - £60000 per annum + Benefits + Bonus: Harrington Starr: C# Developer (...

    Day In a Page

    Middle East crisis: We know all too much about the cruelty of Isis – but all too little about who they are

    We know all too much about the cruelty of Isis – but all too little about who they are

    Now Obama has seen the next US reporter to be threatened with beheading, will he blink, asks Robert Fisk
    Neanderthals lived alongside humans for centuries, latest study shows

    Final resting place of our Neanderthal neighbours revealed

    Bones dated to 40,000 years ago show species may have died out in Belgium species co-existed
    Scottish independence: The new Scots who hold fate of the UK in their hands

    The new Scots who hold fate of the UK in their hands

    Scotland’s immigrants are as passionate about the future of their adopted nation as anyone else
    Britain's ugliest buildings: Which monstrosities should be nominated for the Dead Prize?

    Blight club: Britain's ugliest buildings

    Following the architect Cameron Sinclair's introduction of the Dead Prize, an award for ugly buildings, John Rentoul reflects on some of the biggest blots on the UK landscape
    eBay's enduring appeal: Online auction site is still the UK's most popular e-commerce retailer

    eBay's enduring appeal

    The online auction site is still the UK's most popular e-commerce site
    Culture Minister Ed Vaizey: ‘lack of ethnic minority and black faces on TV is weird’

    'Lack of ethnic minority and black faces on TV is weird'

    Culture Minister Ed Vaizey calls for immediate action to address the problem
    Artist Olafur Eliasson's latest large-scale works are inspired by the paintings of JMW Turner

    Magic circles: Artist Olafur Eliasson

    Eliasson's works will go alongside a new exhibition of JMW Turner at Tate Britain. He tells Jay Merrick why the paintings of his hero are ripe for reinvention
    Josephine Dickinson: 'A cochlear implant helped me to discover a new world of sound'

    Josephine Dickinson: 'How I discovered a new world of sound'

    After going deaf as a child, musician and poet Josephine Dickinson made do with a hearing aid for five decades. Then she had a cochlear implant - and everything changed
    Greggs Google fail: Was the bakery's response to its logo mishap a stroke of marketing genius?

    Greggs gives lesson in crisis management

    After a mishap with their logo, high street staple Greggs went viral this week. But, as Simon Usborne discovers, their social media response was anything but half baked
    Matthew McConaughey has been singing the praises of bumbags (shame he doesn't know how to wear one)

    Matthew McConaughey sings the praises of bumbags

    Shame he doesn't know how to wear one. Harriet Walker explains the dos and don'ts of fanny packs
    7 best quadcopters and drones

    Flying fun: 7 best quadcopters and drones

    From state of the art devices with stabilised cameras to mini gadgets that can soar around the home, we take some flying objects for a spin
    Joey Barton: ‘I’ve been guilty of getting a bit irate’

    Joey Barton: ‘I’ve been guilty of getting a bit irate’

    The midfielder returned to the Premier League after two years last weekend. The controversial character had much to discuss after his first game back
    Andy Murray: I quit while I’m ahead too often

    Andy Murray: I quit while I’m ahead too often

    British No 1 knows his consistency as well as his fitness needs working on as he prepares for the US Open after a ‘very, very up and down’ year
    Ferguson: In the heartlands of America, a descent into madness

    A descent into madness in America's heartlands

    David Usborne arrived in Ferguson, Missouri to be greeted by a scene more redolent of Gaza and Afghanistan
    BBC’s filming of raid at Sir Cliff’s home ‘may be result of corruption’

    BBC faces corruption allegation over its Sir Cliff police raid coverage

    Reporter’s relationship with police under scrutiny as DG is summoned by MPs to explain extensive live broadcast of swoop on singer’s home