Tiffany’s former Vice-President of Product Development has been accused of stealing more than $1.3 million worth of jewelry from her former employer.
Details of Tiffany Vice-President’s Heist
The executive is alleged to have abused her access to valuable jewelry in order to steal, then resell, over $1 million worth of products she represented as her own. As part of her job she was able to “check out” more than 165 pieces of jewelry including diamond bracelets, platinum hoop earrings, platinum diamond rings and pendants. But, instead of returning the jewelry, she sold some, if not all, of it to a third party company based in Manhattan.
Further, the executive appears to have made false statements to her employer, including that she had only recently checked out the missing jewelry in anticipation of creating a PowerPoint presentation for her supervisor and that the missing jewelry could be found in an envelope in her office. The employer could not substantiate either the PowerPoint or locate the envelope with the missing jewels.
Tiffany Vice-President’s Consequences
As the director of the FBI stated “a privileged position in a prestigious company does not insulate a thief from arrest and prosecution”.
In addition to criminal prosecution, theft of this magnitude will usually support a just cause termination.
While this is a US-based case, were the activity to occur in Canada a court would likely consider the Tiffany Vice-President’s level of deception in achieving the theft, their position of trust, and the theft itself in justifying termination with cause.