Woman accused of stealing $12 million in gold
A Scarsdale woman is accused of stealing $12 million in gold from her employer, one of the largest affordable jewelry manufacturers in the country.
Teresa Tambunting, a mother of three, worked for Jacmel Jewelry as the vault manager.
Investigators say Tambunting began hiding gold pieces in the lining of her purse in January of 1991. Over a five-year period, Tambunting allegedly carted away $12 million in gold.
Police say when Tambunting heard her employer realized millions in gold was missing, she had to come clean.
Officials say she brought back a suitcase filled with 60 pounds of gold worth more then $900,000. A search of her home in February turned up another 450 pounds of gold worth $2 million.
The company discovered the missing gold during an audit.
Tambunting was charged with grand larceny and possession of stolen property. She was released on $100,000 bail yesterday and faces up to 25 years in prison if convicted.