Jacob the Jeweler Pleads Guilty to U.S. Charges

The "King of Bling" faces up to 46 months in jail after acknowledging that he lied to a federal agent about a drug probe.

Jacob Arabov, dubbed the “King of Bling’’ for his extravagant jewelry creations for hip-hop stars like Jay-Z, Beyoncé Knowles and other celebrities, pleaded guilty in U.S. District Court in Detroit on Wednesday to falsifying records and lying to a federal agent in connection with a drug investigation.

Arabov, also known as “Jacob the Jeweler,’’ faces as much as 46 months in prison.

For the complete story, see Thursday’s WWD.