Tiffany's Exec Allegedly Stole Millions in Jewels

Court Documents say Ingrid Lederhaas-Okun procured, resold more than $1 million in diamond bracelets
2:23 | 07/03/13

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Transcript for Tiffany's Exec Allegedly Stole Millions in Jewels
We're going to turn to the massive bust at tiffany. A former executive with the jeweler is accused of stealing pieces worth millions of dollars. And then, reselling them and pocketing the profit. She is out on bail this morning in what is being called "operation breakfast at tiffany's." And abc's rebecca jarvis has the story. I'm crazy about tiffany's. Reporter: Just like audrey hepburn's character, so is this woman, ingrid, the former tiffany exec who frosted the rich and famous in fabulous jewels. This morning facing what could be many years behind bars. The fbi's white-collar crime unit dubbing the investigation, "operation breakfast at tiffany's." One count of wire fraud and one count of transportation of stolen properties. He allegedly abused her position. And procured and resold more than $1.2 million in diamond bracelets, earrings, rings and pendants. In total, about 165 piece of jewelry she and her husband sold to a new york city diamond dealer. She was able to check out jewelry to take to jewelry manufacturers. And then, she played with the paperwork. And then, sold the jewelry. Reporter: New details out this morning revealed the alleged scheme could run much deeper. An fbi search of the couple's mansion in the suburb of darrien, connecticut, uncovering millions more in tiffany jewelry, including this bracelet, which sells for $11,000. She allegedly had 32 of them in her house. She was in a position of responsibility. And it gave her a lot of latitude, I believe, to keep this scheme going. Reporter: Both declined comment. But tiffany cfirmed she is a former employee. Court documents say she was a vice president. And just like diamonds, her rap sheet is now forever. She is now out on $250,000 bail. Her travel, restricted to new york and connecticut. She is set to return to court AUGUST 1st. If convicted, she faces up to 30 years in jail, elizabh. All right, rebecca. I guess the rap sheet's forever. But not her best friend. Oh, look at that.

This transcript has been automatically generated and may not be 100% accurate.

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