Jeweler's Employee Accused of Stealing $12 Million in Gold

Prosecutors say a suburban New York woman stole $12 million in gold over six years from the jewelry manufacturer where she worked.

Teresa Tambunting has been charged with grand larceny and criminal possession of stolen property. Prosecutors say she took gold from Jacmel Jewelry in Queens and hid it in the lining of her pocketbook.

The company discovered in January that nearly $12 million in merchandise was missing.

Prosecutors say the thefts occurred from 2004 until Tuesday and that a search turned up 450 pounds of gold at her home in Scarsdale, N.Y.

Tambunting was released Tuesday on $100,000 bail. Her attorney did not immediately return a call seeking comment Wednesday.

Prosecutors are investigating what she planned to do with the jewelry.