Jacob the Jewler Gets 30 Months in Prison

26 06 2008

The Associated Press is reporting that New York businessman Jacob Arabov also know as a “Jacob the Jeweler” in the rap world has been sentenced to 30 months in prison for lying to the authorities investigating a mult-state drug ring. Arabov made a name for himself during the 1990s after he began selling outsized bejewelled necklaces, wristbands and earrings to rappers and athletes willing to chase fame at the expense of their wealth, and not too mention common sense.

The Russian immigrant was originally charged with attempting to launder approximately $270 million in drug profits in 2006. Prosecutors dropped the charges once Arabov cooperated in a plea deal. But Arabov then falsified documents and gave prosecutors false information.

Not exactly what you want to do when you want to feds off your back, particularly if you along with 41 other people stand accused of trafficking 1,100 ponds in cocaine and conspiring to launder $270 million in drug profits.

Prosecutors pressed for at least three years. Arabov’s attorney’s got his sentenced reduced based on his charity work.

I guess it pays to do good in the community even if you got your hands dirty in the process.

Of course, this poses an even greater question.

Where is Fabolous going to go for his gaudy white and yellow jewelry?

We all know Jacob, check the shit he did,
We spent more time, “Making The Band” than Diddy did,
You feel my campaign, then drop your old spouse,
I’m out in DC, at the “White and Gold House”…

Note: Jacob makes a cameo appearance at about the 1:56 mark of the video.

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