( CNN ) -- A former vice president of product development at Tiffany & Co. is accused of stealing $ 1.3 million worth of jewelry from the luxury brand and selling it to an international jewelry company , an unnamed FBI representative said . Ingrid Lederhaas-Okun , 46 , was arrested Tuesday . She is accused of stealing 165 pieces of jewelry , including diamond bracelets , earrings and pendants , between January 2011 and February 2013 . Officials said Lederhaas-Okun abused her position to check out the pieces and write off or cancel the costs of the jewelry , later reselling the pieces falsely as her own . According to a federal complaint , Lederhaas-Okun was terminated by Tiffany & Co. in February 2013 as a result of downsizing within the company . The day after her termination , Tiffany 's conducted an inventory review and discovered the missing jewelry . Lederhaas-Okun then continued to make false statements to the company through e-mail , including that the jewelry could be found in a white envelope at her desk , officials said . A search of her office , however , did not uncover the envelope , according to a news release . Linda Buckley , vice president for Tiffany & Co. , said , `` In deference to the U.S. Attorney 's investigation , we are not in a position to comment at this time . '' Notable diamond heists . According to the complaint , the jewelry store that Lederhaas-Okun sold the jewelry to is a leading international buyer and reseller of jewelry with an office in Midtown Manhattan . More than 75 checks were made to Lederhaas-Okun and her husband , ranging from $ 7,525 to $ 47,400 , the complaint said . It also states that an unnamed friend of Lederhaas-Okun assisted with the transactions . `` Ingrid Lederhaas-Okun took advantage of the access her employment afforded her to expensive jewelry . '' FBI Assistant Director-in-Charge George Venizelos said in a news release . `` A privileged position in a prestigious company does not insulate a thief from arrest and prosecution . '' Lederhaas-Okun is charged with one count of wire fraud , which carries a maximum of 20 years in prison , and one count of interstate transportation of stolen property , which carries a maximum of 10 years in prison . She was scheduled to appear in court on Tuesday . Bail was set at $ 250,000 but Lederhaas-Okun was released from custody on her own signature and given a week to post bond , according to the U.S. attorney 's office in New York . She was placed under travel restriction , required to surrender her passport and appointed a federal public defender for the time being . Lederhaas-Okun 's attorney , Sabrina Shroff , could not be reached for comment . Half a million dollars ' worth of jewelry stolen in Atlantic City casino . CNN 's Elwyn Lopez and Elizabeth Landers contributed to this report .
Former vice president accused of reselling 165 pieces to international jewelry company . Sold jewelry includes diamond bracelets , earrings and pendants , officials say . Jewelry was discovered missing after executive was laid off , Tiffany 's says .