Jacob The Jeweler Gets Lock Up

“Jacob the Jeweler” was sentenced Tuesday to 2 1/2 years in federal prison for lying to investigators looking into a multistate drug ring.

Jacob Arabov, 43, pleaded guilty in October to falsifying records and giving false statements as part of a deal with federal prosecutors, who asked U.S. District Judge Avern Cohn to impose a minimum sentence of three years and one month.

But Cohn decided to shave off seven months from that recommendation, citing Arabov’s extensive charity work. Cohn also ordered “Jacob the Jeweler” to pay a $50,000 fine and to make a $2 million forfeiture payment to the government. (DAMN IT!)

Authorities accused Arabov and others of conspiring to launder drug profits for the “Black Mafia Family,” a ring that operated out of the Detroit area beginning in the early 1990s.

The seven-year investigation resulted in the indictments of Arabov and at least 41 other people, federal authorities say.

They say about 1,100 pounds of cocaine and $19 million in cash and other assets were seized beginning in 2000.