Celebs may have to find somewhere else to buy their diamond-encrusted whatevers after last Thursday's arrest of "Jacob the Jeweler."
Born Jacob Arabov, hip hop’s hookup man was apprehended in front of his midtown Manhattan store last week in connection with a multi-state drug and money-laundering ring. A warrant for his arrest was issued in Detroit by federal authorities, who have charged him with conspiring with others to launder money in connection with a jewelry business. The 41-year-old Russian immigrant immediately paid his $100,000 bail and was released from custody.
Arabov is named in an indictment along with 16 other people, some of whom are charged with breaking federal drug laws, including conspiracy to distribute more than 476 kilograms of cocaine and laundering about $270 million, Detroit U.S. Attorney Stephen J. Murphy said Thursday.
The Feds say those indicted are connected to the "Black Mafia Family," a drug organization that has been slinging cocaine in the Detroit area since the early 90s, and have extended across the country. Between October 1997 and June 2005, authorities said they seized approximately $5 million in cash from the gang, which used the drug money to purchase and lease luxury vehicles, buy real estate and jewelry.
Paul Wilmot, a spokesman for Jacob & Co., said Arabov’s arrest was "the result of an unfortunate misunderstanding that we believe will be straightened out in the next several weeks."
"We are confident that once the government is advised of all the facts surrounding these issues that all of the charges against Mr. Arabov will be completely dismissed," he added.
Born Jacob Arabov, hip hop’s hookup man was apprehended in front of his midtown Manhattan store last week in connection with a multi-state drug and money-laundering ring. A warrant for his arrest was issued in Detroit by federal authorities, who have charged him with conspiring with others to launder money in connection with a jewelry business. The 41-year-old Russian immigrant immediately paid his $100,000 bail and was released from custody.
Arabov is named in an indictment along with 16 other people, some of whom are charged with breaking federal drug laws, including conspiracy to distribute more than 476 kilograms of cocaine and laundering about $270 million, Detroit U.S. Attorney Stephen J. Murphy said Thursday.
The Feds say those indicted are connected to the "Black Mafia Family," a drug organization that has been slinging cocaine in the Detroit area since the early 90s, and have extended across the country. Between October 1997 and June 2005, authorities said they seized approximately $5 million in cash from the gang, which used the drug money to purchase and lease luxury vehicles, buy real estate and jewelry.
Paul Wilmot, a spokesman for Jacob & Co., said Arabov’s arrest was "the result of an unfortunate misunderstanding that we believe will be straightened out in the next several weeks."
"We are confident that once the government is advised of all the facts surrounding these issues that all of the charges against Mr. Arabov will be completely dismissed," he added.
