Lloyd's Targets Tiffany Exec Over $5.4M Theft

Law360, New York (February 14, 2014, 1:37 PM EST) -- Lloyd's of London underwriters brought a suit in New York state court Wednesday against a former Tiffany & Co. executive about to enter prison on charges of stealing merchandise from the luxury retailer and the jewelry trader that allegedly fenced her loot, seeking to recover the resulting $5.4 million loss.

Lloyd's is bringing a subrogation case after satisfying Tiffany's insurance claim surrounding an eight-year embezzlement perpetrated by former Vice President of Product Development Ingrid Lederhaas-Okun.

Lederhaas-Okun pled guilty in July to stealing and reselling Tiffany's jewelry from 2008 to 2013, and was hit with a $2.2 million restitution order and a...

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