U.S. Markets closed

Feds: Tiffany exec stole jewelry worth $1.3M

Tom Hays, Associated Press
FILE - In this Aug. 26, 2010 file photo, the iconic Tiffany and Co. sign stands out on its 5th Avenue store in New York. On Tuesday, May 29, 2013, Tiffany & Co. says its first-quarter net income rose 3 percent as sales improved across all regions. The results beat Wall Street expectations, and its shares rose 6 percent in premarket trading (AP Photo/Bebeto Matthews, File)

NEW YORK (AP) -- A former executive with Tiffany & Co. stole a little blue box bounty from the jeweler's midtown Manhattan headquarters and resold it for more than $1.3 million, federal authorities said Tuesday.

Ingrid Lederhaas-Okun was arrested Tuesday at her home in Darien, Conn. She was to appear later in the day in federal court in Manhattan to face charges of wire fraud and interstate transportation of stolen property.

As vice president of product development, Lederhaas-Okun had authority to "check out" jewelry from Tiffany to provide to potential manufacturers to determine production costs. Authorities allege that after she left Tiffany in February, the company discovered she had checked out 164 items that were never returned.

According to a criminal complaint, the missing jewelry included numerous diamond bracelets in 18-carat gold, diamond drop and hoop earrings in platinum or 18-carat gold, diamond rings in platinum, rings with precious stones in 18-carat gold, and platinum and diamond pendants.

When confronted about the missing jewelry, Lederhaas-Okun claimed that she had left some of it behind at Tiffany and that some had been lost or damaged, the complaint said. But an investigation found that Lederhaas-Okun resold the goods to an unidentified international dealer for more than $1.3 million, it said.

Bank records showed that since January 2011, the dealer wrote 75 checks to her or her husband for amounts of up to $47,400, the complaint said. Investigators also recovered purchase forms signed by Lederhaas-Okun that said the items were her personal property.

Authorities allege Lederhaas-Okun purposely checked out items valued at under $10,000 apiece to avoid detection. The company takes a daily inventory of all checked-out items worth more than $25,000.

If convicted, Lederhaas-Okun faces up to 20 years in prison. The name of her attorney wasn't immediately available.

Tiffany representatives declined to comment Tuesday.

  • Here's Why StoneCo Stock Is Plunging Today
    Business
    Motley Fool

    Here's Why StoneCo Stock Is Plunging Today

    Shares of Brazilian fintech company StoneCo (NASDAQ: STNE), which gained notoriety in recent months after being added to Berkshire Hathaway's portfolio, are plummeting today. Generally speaking, moves like this are often seen after earnings announcements, but StoneCo isn't set to report earnings again for another couple months. In this case, the plunge appears to be triggered by a move from a rival company.

  • Did You Manage To Avoid Arcadis's (AMS:ARCAD) 40% Share Price Drop?
    Business
    Simply Wall St.

    Did You Manage To Avoid Arcadis's (AMS:ARCAD) 40% Share Price Drop?

    Arcadis NV (AMS:ARCAD) shareholders will doubtless be very grateful to see the share price up 44% in the last quarter. After all, the share price is down 40% in that time, significantly under-performing the market. While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational.

  • Business
    Associated Press

    Advisory firms support splitting Boeing CEO and chair duties

    Two groups that advise investors recommend that Boeing shareholders split the jobs of chairman and CEO, now both held by Dennis Muilenburg, as the company deals with two deadly crashes involving its new plane, the 737 Max. Institutional Shareholder Services said Tuesday that an independent chairman would improve oversight and help Boeing regain confidence of regulators and customers. Glass Lewis said an independent chairman is better able to oversee executives and set a pro-shareholder agenda.

  • Here's Why Blackstone Shares Jumped on Thursday
    Business
    Motley Fool

    Here's Why Blackstone Shares Jumped on Thursday

    Shares of Blackstone Group (NYSE: BX) climbed nearly 7% on Thursday morning after the alternative asset manager reported first-quarter earnings that blew past expectations and announced plans to convert to a corporation from a partnership. Blackstone, before markets opened, said it had earned $0.71 per share in the first quarter, easily surpassing the consensus estimate for $0.53 per share in earnings. The partnership structure has prevented some classes of investors, namely pension funds and other tax-exempt institutions, from buying shares of Blackstone, and has made the company ineligible for inclusion on certain indexes.

  • Based On Its ROE, Is LKQ Corporation (NASDAQ:LKQ) A High Quality Stock?
    Business
    Simply Wall St.

    Based On Its ROE, Is LKQ Corporation (NASDAQ:LKQ) A High Quality Stock?

    With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. LKQ has a ROE of 10%, based on the last twelve months. One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.10 in profit.

  • Business
    Barrons.com

    GE Stock Got a Thumbs Up From a Mysterious 'Smartest Man'

    GE)'s beaten-down stock is up 25% year to date, and Melius Research analyst Scott Davis says the smartest industrial investor he knows is buying the shares. That's a tantalizing statement. Who is this investing star?

  • Kinder Morgan Delivers Solid First-Quarter Performance
    Business
    Motley Fool

    Kinder Morgan Delivers Solid First-Quarter Performance

    Kinder Morgan's (NYSE: KMI) first-quarter results came in about as expected. The solid start to 2019 has the company on pace to hit its full-year budget for cash flow. It also allowed Kinder Morgan to fulfill its promise to boost the dividend by 25%.

  • Why Mustang Bio Stock Is On Fire Today
    News
    Motley Fool

    Why Mustang Bio Stock Is On Fire Today

    Mustang's shares are blasting off in response to the news that an experimental gene therapy, MB-107, for "bubble boy" disease -- also known as X-linked severe combined immunodeficiency, or XSCID for short -- reportedly cured eight boys with the deadly condition. Equally critical, Mustang said that the boys are showing no signs of unintended side effects from the therapy -- an issue that has derailed prior gene therapies for XSCID. Mustang licensed MB-107 from St. Jude Children's Research Hospital.

  • This Marijuana Stock Offers the Best Bang for the Buck
    Business
    Motley Fool

    This Marijuana Stock Offers the Best Bang for the Buck

    Companies like Cronos Group, which sports a $5.2 billion market cap, is only capable of perhaps 120,000 kilos of peak production, and is valued at north of 210 times forward earnings. Similarly, Aurora Cannabis, Canada's projected leading producer at 780,000 kilos a year at peak capacity, may not even be profitable in fiscal 2020 due to expansion costs. Yet it's lugging around an $8.5 billion valuation.

  • Canopy Growth strikes $3.4B deal to buy Acreage
    Business
    Yahoo Finance Video

    Canopy Growth strikes $3.4B deal to buy Acreage

    Canopy Growth stock is up today on news that it's made a deal to buy Acreage Holdings. Yahoo Finance's Zack Guzman and Kristin Myers are joined by Lauren Smith Brody, 'The Fifth Trimester' author and founder, to discuss.

  • Why Nintendo Stock Popped Today
    Business
    Motley Fool

    Why Nintendo Stock Popped Today

    What happened Shares of Nintendo (NASDAQOTH: NTDOY) were up 13.6% as of 1:30 p.m. EDT Thursday after news emerged that the company's Switch gaming console will soon begin selling in China. But Nintendo won't be selling the devices directly.

  • Business
    MarketWatch

    Brigham Minerals shares climb 11% in trading debut

    Brigham Minerals Inc. shares (mnrl) climbed 11% in their trading debut Thursday, after the Austin, Texas-based oil and gas mineral rights and royalties company priced its initial public offering at the top of its price range. Brigham sold 14.5 million shares priced at $18 each to raise $261 million, after increasing the size of the deal by $1 million shares.

  • Why Check Point Software Stock Dropped 8% Today
    Business
    Motley Fool

    Why Check Point Software Stock Dropped 8% Today

    Shares of IT security specialist Check Point Software Technologies (NASDAQ: CHKP) plunged more than 11% in early trading on the Nasdaq today before retracing to about an 8.2% loss as of 12:40 p.m. EDT. Check Point reported its fiscal first-quarter 2019 earnings this morning, but earnings weren't the problem this time -- guidance was. An earnings beat could have sent Check Point stock up today.

  • Kirkland's, Inc. (NASDAQ:KIRK): What Does Its Beta Value Mean For Your Portfolio?
    Business
    Simply Wall St.

    Kirkland's, Inc. (NASDAQ:KIRK): What Does Its Beta Value Mean For Your Portfolio?

    Beta is a widely used metric to measure a stock's exposure to market risk (volatility). Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk. Having said that, beta can still be rather useful.

  • Early Pinterest investor on 30% spike in IPO debut: 'They're just getting started'
    Business
    Yahoo Finance Video

    Early Pinterest investor on 30% spike in IPO debut: 'They're just getting started'

    An early Pinterest investor comments on the company's spike in IPO debut, along with Zoom shares skyrocketing. Yahoo Finance's Zack Guzman and Kristin Myers are joined by Lauren Smith Brody, 'The Fifth Trimester' author and founder, and Talia Goldberg of Bessemer Venture Partners, to discuss.

  • Boeing 'shielded' from 737 Max order cancellations
    Business
    MarketWatch

    Boeing 'shielded' from 737 Max order cancellations

    Don't expect Boeing Co. to face a slew of order cancellations following the 737 Max debacle. Airlines, Boeing's (BA) main customers, are hungry for fuel-efficient single-aisle aircraft such as the Max, and there's a long backlog for the jet's closest competitor, Airbus SE' (FR:AIR) A320neo, analysts at Oxford Economics said in a note Thursday. “That will shield Boeing from a mass cancellation of orders,” the analysts said.

  • Why Atlassian Stock Fell Thursday
    Business
    Motley Fool

    Why Atlassian Stock Fell Thursday

    The stock's decline follows the release of Atlassian's fiscal third-quarter earnings after market close on Wednesday. The quarterly report's worse-than-expected guidance for fiscal fourth-quarter non-IFRS earnings per share may have disappointed some investors. So what Atlassian's fiscal third-quarter results featured strong growth.

  • A Look At The Intrinsic Value Of Stitch Fix, Inc. (NASDAQ:SFIX)
    Business
    Simply Wall St.

    A Look At The Intrinsic Value Of Stitch Fix, Inc. (NASDAQ:SFIX)

    Today we will run through one way of estimating the intrinsic value of Stitch Fix, Inc. (NASDAQ:SFIX) by taking the expected future cash flows and discounting them to their present value. We generally believe that a company's value is the present value of all of the cash it will generate in the future. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.

  • Harry Boxer: Two marijuana stocks are among charts worth watching
    Business
    MarketWatch

    Harry Boxer: Two marijuana stocks are among charts worth watching

    Marijuana stocks are among our top charts to watch today. Bank of America Merrill Lynch named the company as one of three marijuana stocks to buy. The stock, after sharp year-to-date gains, has been consolidating in recent weeks, but may be on the verge of its next leg up with cannabis stocks in general.

  • These 15 Pot Stocks Will Generate the Highest Sales in 2020
    Business
    Motley Fool

    These 15 Pot Stocks Will Generate the Highest Sales in 2020

    There are a number of surprises with Wall Street's data, but perhaps the one thing that isn't a surprise is seeing Aurora Cannabis atop the pack in the revenue column. Aurora is outpacing the field right now in terms of annual run-rate production (north of 150,000 kilos a year), and it recently announced an additional expansion of its largest facility, Aurora Sun. While management has been conservative with its peak production forecast, I believe the company to be on track for more than 780,000 kilos a year by 2022. Based on sheer volume alone, Aurora will remain at or near the top of the list in terms of annual sales.

  • Will Coca-Cola's Earnings Surpass Wall Street's Expectations?
    Business
    Market Realist

    Will Coca-Cola's Earnings Surpass Wall Street's Expectations?

    Will Coca-Cola's First-Quarter Results Boost Its Stock? (Continued from Prior Part)Earnings trend Coca-Cola (KO) exceeded analysts' earnings expectations in the first three quarters of 2018 and was in line with analysts' estimate in the fourth

  • Did Business Growth Power Finjan Holdings's (NASDAQ:FNJN) Share Price Gain of 126%?
    Business
    Simply Wall St.

    Did Business Growth Power Finjan Holdings's (NASDAQ:FNJN) Share Price Gain of 126%?

    For instance the Finjan Holdings, Inc. (NASDAQ:FNJN) share price is 126% higher than it was three years ago. In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.

  • Chip Foundry TSMC Hits Buy Point After First-Quarter Earnings Beat
    Business
    Investor's Business Daily

    Chip Foundry TSMC Hits Buy Point After First-Quarter Earnings Beat

    Taiwan Semiconductor Manufacturing Co., known as TSMC, on Thursday narrowly beat Wall Street's first-quarter targets, but guided lower for the current quarter. The TSMC earnings report drove its stock higher in midday trading. The chip foundry earned 38 cents per U.S. share on sales of $7.09 billion in the March quarter.

  • The CECO Environmental (NASDAQ:CECE) Share Price Has Gained 60% And Shareholders Are Hoping For More
    Business
    Simply Wall St.

    The CECO Environmental (NASDAQ:CECE) Share Price Has Gained 60% And Shareholders Are Hoping For More

    Despite the lack of revenue growth, the stock has returned a solid 60% the last twelve months. To us that means that there isn't a lot of correlation between the past revenue performance and the share price, but a closer look at analyst forecasts and the bottom line may well explain a lot. You can see how revenue and earnings have changed over time in the image below, (click on the chart to see cashflow).

  • What Are Analysts Projecting for AK Steel's Q1 Earnings?
    Business
    Market Realist

    What Are Analysts Projecting for AK Steel's Q1 Earnings?

    How Wall Street Views Steel Stocks ahead of Their Q1 Results(Continued from Prior Part)AK Steel's first-quarter earnings AK Steel (AKS) is expected to release its first-quarter earnings results on April 29 after the market closes. Last year was