Yeah!: Jacob the Jeweler Arrested for Money Laundering :)

 
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PostPosted: Sun Jun 18, 2006 11:11 am    Post subject: Yeah!: Jacob the Jeweler Arrested for Money Laundering :)

He should have been arrested long ago for crimes against horology but this can be equally effective if I no longer have to see Britney Spears or Justin Timberlake wearing rediculous watches while I am channel surfing.

Then again Arabov may get new "street cred" and his grotesque watches may sell even more. :roll:



June 15, 2006, 7:10 PM EDT





NEW YORK -- The jeweler known for putting diamonds on celebrities from Kanye West to Sir Elton John was arrested Thursday on money-laundering charges.

Police said Yakov Arabov, known throughout the hip-hop world as Jacob Arabo or "Jacob the Jeweler," was connected to a multistate drug and money-laundering ring.

Arabov, who appeared briefly in U.S. District Court in Manhattan after his arrest, did not want to comment, said his lawyer, Daniel Gotlin.

"It's been a difficult enough day for what they did to him," Gotlin said, declining to comment further. Bail was set for Arabov at $100,000, which the Russian immigrant immediately had paid.

The 41-year-old Arabov, who first came to fame in the mid-1990s as hip-hop and R&B artists started sporting his gem-encrusted pieces -- was arrested at 8:30 a.m. on a warrant issued in Detroit by federal authorities.

The authorities have charged him with conspiring with others to launder money in connection with a jewelry business.

Full Story.
http://www.newsday.com/news/nationworld/nation/wire/sns-ap-jacob-jeweler-arrest,0,4648913.story
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