Jacob the Jeweler, the self-appointed "King of Bling," has found himself kicked out of the palace and thrown into the slammer. According to WWD, Jacob Arabov was sentenced to 30 months in prison and a $2 million fine. That’s 2 and half years, and a lot of dough!
What did the Bling King do to land himself in such trouble? Well, he was arrested on June 15, 2006, at his flagship on East 57th Street in
Manhattan on charges of laundering more than $270 million in narcotics
proceeds for a Detroit-based drug ring called the Black Mafia Family. $270 mill! Yep… that’ll do it.
Judge Avern Cohn of Detroit could have sentenced Jacob to 20 years in prison for those and other charges, so it seems the jeweler got it pretty easy. His defense attorney, Benjamin Brafman, issued this statement: "Jacob Arabov and his counsel are pleased that Judge Cohn recognized
the amazing story of Jacob, who at age 14 emigrated from the former
Soviet Union, came to the U.S. with nothing, and yet managed to become
one of the most respected, beloved and successful jewelers in the
world." And the jail-time probably won’t even hurt his career.
Tags: Jacob the Jeweler