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.

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