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.