{
  "id": 18353805,
  "title": "₹170 crore theft over 10 years: Woman spends employer’s money on Rolex watches, private jets, luxury handbags",
  "url": "https://urgent.news/2026/11/05/170-crore-theft-over-10-years-woman-spends-employers-money-on-rolex",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-05T18:08:34.000Z",
  "source": {
    "name": "Live Mint",
    "slug": "live-mint",
    "url": "https://www.livemint.com/news/trends/170-crore-theft-over-10-years-woman-spends-employer-s-money-on-rolex-watches-private-jets-luxury-handbags-11793901204672.html"
  },
  "original_language": "en",
  "account": "Lizbeth Sherman, a 47-year-old woman from El Dorado Hills, California, has admitted to stealing nearly $18 million (approximately ₹170 crore) over a span of 10 years from her employer. Sherman, who worked as an executive assistant to a retired venture capitalist, misused her access to the employer's bank account to fund an extravagant lifestyle involving luxury shopping, private jet travel, and expensive home renovations. She allegedly began her fraud in 2015, using the stolen money to pay off her own credit card bills, cover personal expenses, and make luxury purchases. Sherman's spending included designer handbags from Louis Vuitton, Rolex watches, expensive holidays, private jet journeys, vehicles, and renovations to her $2 million home. Over time, she also sold some of the luxury items she purchased using her employer's money on online resale platforms, earning an estimated $450,000. In December 2025, authorities searched Sherman's residence and recovered over 1,500 luxury items, including Louis Vuitton handbags, exotic fur items, and Christian Louboutin boots. She faces a maximum sentence of 20 years in federal prison and a fine of up to $250,000 if convicted.",
  "summary": "The woman spent the money on designer handbags, Rolex watches, luxury holidays and other high-value purchases.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}