'Jacob the Jeweler' Sentenced to 30 Months in Prison
Tue, 24 Jun 2008 16:22:39
Jacob "the Jeweler" Arabov—a one-time business partner with everyone from Kanye West to Lil' Kim—received a 30-month prison sentence on Monday for pleading guilty to falsifying records and giving false statements to federal investigators who were pursuing an interstate drug ring.
"I feel ashamed that I broke the laws of this country, a country that has been so good for me," Arabov told U.S. District Judge Avern Cohn. "I will carry this shame for the rest of my life."
Judge Cohn knocked seven months off the 43 year old's minimum term because of his history with philanthropy, saying, "He's a very charitable man." Arabov was also fined $50,000 and forced to pay a $2 million forfeiture fee to the government.
"Today's sentence should be a strong warning that such conduct carries serious consequences," U.S. Attorney Stephen J. Murphy said in a statement. According to Murphy, jewelers are "in an easy position to help narcotics dealers hide their assets."
Arabov and many others were part of a seven-year investigation involving the "Black Mafia Family," a Detroit-based drug ring from 1990 to 2005. While more than 100 individuals were indicted as part of the investigation, 1,100 pounds of cocaine and $19 million in cash, cars and jewelry were seized starting in 2000.
Terry and Demetrius Flenory, the leaders of the Black Mafia Family, pled guilty to charges last year and are now awaiting sentencing.
—The ARTISTdirect Staff