Wednesday, April 26, 2006 – BOCA RATON — When thousands of dollars in high-end jewelry started disappearing from display cases in Saks Fifth Avenue, Vincent Ognibene was assigned to investigate. Ognibene, an asset protection detective at the store at the Town Center mall, monitored the daily inventory counts and reviewed surveillance tapes, but he never could catch the culprit. Then a luxury John Hardy bracelet went missing, and another store detective found it being auctioned on eBay.

Ognibene was the seller.

Police on Monday charged the 57-year-old Coral Springs man with grand theft and organized scheme to defraud.
Saks District Manager Charlette Coleman told detectives that 107 David Yurman, Roberto Coin, Judith Ripka and Scott Kay pieces, valued at $104,215, had been taken from mid-2003 through December 2005. Ognibene admitted to stealing more than 50 pieces and selling them on eBay, earning a $75,102 profit. EBay records, however, showed that Ognibene sold 114 items. Saks had no comment.

The news is mentioned here because Saks uses predatory lender Household International (HSBC) for the Saks credit card.

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