A long time employee of Jacmel Jewelry has been charged with stealing as much as $12 million in gold merchandise from the company over six years, the Queens District Attorney said.
Teresa Tambunting, 50, was arraigned Tuesday afternoon on charges of first-degree grand larceny and first-degree criminal possession of stolen property. She faces up to 25 years in prison if convicted.
Tambunting was Jacmel’s vault manager, according to the DA’s office. A physical inventory in January 2009 revealed that as much as $12 million worth of merchandise was unaccounted for. According to the DA’s office, after an investigation was initiated, Tambunting allegedly arrived at Jacmel’s offices wheeling a suitcase containing 66 pounds of fine gold with an estimated value of $868,000.
In statements allegedly made to detectives, Tambunting said that she had concealed the gold in the lining of her pocketbook.