Police: Woman stole diamond ring, swapped it for one worth $28K at New Jersey Costco

NUTLEY, New Jersey -- Police in New Jersey have arrested a woman they say stole a diamond ring worth $2,000 and then swapped it out at Costco for one worth $28,000.

Authorities say 49-year-old Izaebela Kolano, of Nutley, stole the first ring at a Costco in Wayne on Saturday before traveling to the Clifton location a day later and asking to see the more expensive one.

She then handed back the stolen ring, unbeknownst to the clerk.

Management called police after realizing what happened, and police tracked Kolano to her home.

She eventually told police she had hidden the ring under a rock on a no outlet street near the Passaic River in Wallington, where officers found it buried under a fence.

Kolano is charged with theft.