Jacob The Jeweler = 30 Months in Prison
Infamous rap star jewelery enabler, Jacob “The Jeweler” Arabov is headed to federal prison for lying to investigators wroking to stop a multistate drug ring.
The 42-year-old Russian immigrant was also ordered to pay a $50,000 fine and make $2 million in forfeiture payments to the government.
US District Judge Avern Cohn removed seven months from the prosecutors’ reccomendation citing Arabov’s extensive charity work.
Arabov said:
“I feel ashamed that I broke the laws of this country, a country that has been so good for me. I will carry this shame for the rest of my life.”
In 2005, police arrested the “king of bling” in his Manhattan jewelry shop and accused him and others of conspiring to launder about $270 million in drug profits for the “Black Mafia Family,” a Detroit-based crime ring that took root in the early 1990s.
The seven-year investigation resulted in the indictments of Arabov and at least 41 other people. Police say about 1,100 pounds of cocaine and $19 million in cash and other assets were seized beginning in 2000. Arabov begins his prison sentence on January 15, 2009.
Arabov has previously launched a line of religious-themed jewelry with Kanye West, who later named him in songs including “Diamonds From Sierra Leone,” in which Kanye asks: “These ain’t conflict diamonds, is they Jacob? Don’t lie to me man.” Arabov also manufactured Lil’ Kim’s line of Royalty watches.
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