Jacob Arabov, a New York jeweler better known as ‘Jacob The Jeweler’ who was sentenced to 2 1/2 years in prison June 2008 after pleading guilty for falsifying records and giving false statements to authorities who were investigating a drug ring, recently forfeited $2 million dollars of his assets as a part of his sentence. Jacob Arabov was accused of helping the Black Mafia Family gang launder its drug profits out of Detroit. Jacob was accused of hiding that he sold jewelry to Terry Flenory, amongst others who were being investigated.

‘Jacob The Jeweler’ is most known for providing hip hop industry people and celebrities extravagant watches and jewelry.

Reportedly, the IRS retained $400,000 for administration costs, while the rest is stated to have been distributed to approximately seven police agencies which helped the (U.S. DEA) U.S. Drug Enforcement Administration and the IRS with the investigation.

Jacob Arabov reportedly helped hide the Black Mafia Family ownership of a share of $5 million in jewelry of their alleged $270 million dollars in drug profits.

 Print This Post

a d v e r t i s e m e n t

Last 5 posts in Celebrity News

• Diddy Turns 40, Still Parties Like a Rockstar! Jay-Z Pissed At Beyonce?! (Photos) - November 20th, 2009
• Gospel Rapper Da Truth Had Affair With Tye Tribbet's Wife, After He Slept With BF's Baby Mama! - November 20th, 2009
• Miley Cyrus Tour Bus Involved In Deadly Crash! More Details Revealed + Photos - November 20th, 2009
• Beyonce Says She's Not Ready For Kids Despite Jay Z's Wants! - November 19th, 2009
• Janet Jackson Knew of Michael's Drug Addiction; Blames Doctor For Propofol Death - November 19th, 2009

Last 5 posts in Fashion

• Eva Mendes Wardobe Malfunction; Nip Slip Exposed in New Photos + Racy Ad (Pictures) - November 9th, 2009
• 50 Cent's Newest Flick With Rick Ross' Baby Mama Tia Leaked + Photos - October 29th, 2009
• Paula Patton New Pictures Show Her Giant Hot and Sexy Side (Photos) - October 23rd, 2009
• Kim Kardashian Covers Cosmopolitan Magazine (Photos + Footage) - October 14th, 2009
• Megan Fox In Her Underwear As New Face Of Giorgio Armani (Photos) - October 14th, 2009

Last 5 posts in Gossip/Rumors

• Diddy Turns 40, Still Parties Like a Rockstar! Jay-Z Pissed At Beyonce?! (Photos) - November 20th, 2009
• Gospel Rapper Da Truth Had Affair With Tye Tribbet's Wife, After He Slept With BF's Baby Mama! - November 20th, 2009
• Miley Cyrus Tour Bus Involved In Deadly Crash! More Details Revealed + Photos - November 20th, 2009
• Beyonce Says She's Not Ready For Kids Despite Jay Z's Wants! - November 19th, 2009
• Tila Tequila An Attention Whore? Naked Ustream Rant, Tampon and Gun Display + Photos - November 19th, 2009

Last 5 posts in Hip Hop

• Diddy Turns 40, Still Parties Like a Rockstar! Jay-Z Pissed At Beyonce?! (Photos) - November 20th, 2009
• Gospel Rapper Da Truth Had Affair With Tye Tribbet's Wife, After He Slept With BF's Baby Mama! - November 20th, 2009
• Beyonce Says She's Not Ready For Kids Despite Jay Z's Wants! - November 19th, 2009
• Rapper Gucci Mane Receives 1 Year In Prison, Talks From Behind The Bars - November 19th, 2009
• Singer Nivea says She's Still Pregnant With Rapper Lil Wayne's Baby After Rumor - November 19th, 2009

Last 5 posts in Hip-Hop Justice

• Rapper Gucci Mane Receives 1 Year In Prison, Talks From Behind The Bars - November 19th, 2009
• C-Murder Has No Money For Appeal, Attorneys Step In; Master P Has Words - November 12th, 2009
• Rapper B.G. Jailed On Gun Charges; Held Without Bond - November 9th, 2009
• Baby and Slim Release Statement on Behalf of Lil Wayne's Guilty Plea - October 26th, 2009
• Lil Wayne Pleads Guilty For Gun Possession, May Serve 1 Year In Jail - October 22nd, 2009

Last 5 posts in News

• Diddy Turns 40, Still Parties Like a Rockstar! Jay-Z Pissed At Beyonce?! (Photos) - November 20th, 2009
• Gospel Rapper Da Truth Had Affair With Tye Tribbet's Wife, After He Slept With BF's Baby Mama! - November 20th, 2009
• Miley Cyrus Tour Bus Involved In Deadly Crash! More Details Revealed + Photos - November 20th, 2009
• Beyonce Says She's Not Ready For Kids Despite Jay Z's Wants! - November 19th, 2009
• Janet Jackson Knew of Michael's Drug Addiction; Blames Doctor For Propofol Death - November 19th, 2009

Last 5 posts in People - U.S.

• Diddy Turns 40, Still Parties Like a Rockstar! Jay-Z Pissed At Beyonce?! (Photos) - November 20th, 2009
• Gospel Rapper Da Truth Had Affair With Tye Tribbet's Wife, After He Slept With BF's Baby Mama! - November 20th, 2009
• Miley Cyrus Tour Bus Involved In Deadly Crash! More Details Revealed + Photos - November 20th, 2009
• Singer Nivea says She's Still Pregnant With Rapper Lil Wayne's Baby After Rumor - November 19th, 2009
• Whoa! 50 Cent Holding Rick Ross' Son with Floyd Mayweather Jr. In Tow (Photos) - November 18th, 2009