Woman Steals $12 Million in Gold Bricks From Job

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 from her job, by concealing the stash in the lining of her handbag.

The district attorney for New York City's borough of Queens said Teresa Tambunting, 50, (pictured) 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.

In January, an inventory audit conducted at Jacmel revealed that nearly 850 pounds of gold merchandise worth about $12 million was unaccounted for, Brown's statement added.

After an investigation was initiated, Tambunting returned to Jacmel a suitcase containing 66 pounds of gold. On February 13, an additional 448 pounds of gold was recovered from Tambunting's home, the DA said.