Most Recent Articles In Legal
Latest Legal Articles
- SEC Charges Lynn Tilton With Fraud
- Wal-Mart Hits Back in Converse Case
- Arvind to Pay Ralph Lauren $3.2 Million in USPA Settlement
More Articles By
The “King of Bling’’ has dented his crown.
Jacob Arabov, also known as “Jacob the Jeweler,” purveyor of over-the-top diamond jewelry to clients varying from the world of sports and hip hop to the Upper East Side and Hollywood through his namesake firm Jacob & Co., has been sentenced to 30 months in prison.
He will also pay a fine of $2 million in a sentence handed down today by U.S. district court judge Avern Cohn in Detroit.
Arabov, 42, was arrested on June 15, 2006, at his flagship on East 57th Street on charges of laundering more than $270 million in narcotics proceeds for a Detroit-based drug ring called the Black Mafia Family.