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May 01, 2009

500 lbs of gold

You know, it is possible to steal 500 lbs of gold....and for nobody to know that you've actually stolen it.

Call her the modern day Goldfinger. A New York woman was charged Wednesday with stealing as much as $12 million in gold bullion and jewelry over a period of six years, lifting the ill-gotten booty from her employer by concealing the stash in the lining of her pocketbook.

The district attorney for New York City's borough of Queens said Teresa Tambunting, 50, was arraigned Wednesday on charges of first-degree grand larceny and first-degree criminal possession of stolen property from Jacmel Jewelry Inc.

"The defendant is accused of establishing a virtual mining operation ... which siphoned off millions of dollars worth of the precious metal from her employer," Queens District Attorney Richard Brown said in a statement.

As is the secret with any successful theft, take a little bit at a time but take a little bit every day.

Most especially in the metals business, or scrap recycling. Accounting is necessarily vague, fpor you never really know how much of the target metal is in the original stock, nor how much is lost in processiong. You can, indeed, steal a few tens, perhaps a few hundreds of dollars a day and not get caught. Over the years, that adds up.

May 1, 2009 in Scams and Frauds | Permalink


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