Jacob “The Jeweler” Pleads Not Guilty to Money Laundering
Jacob Arabov, popularly known as Jacob The Jeweler, pleaded not guilty to federal money laundering charges yesterday in Detroit. Arabov was arraigned before U.S. Magistrate Judge Virginia M. Morgan, who upheld his $100,000 bail. Jacob, who gained notoriety as the preferred jeweler to some of hip-hop’s biggest stars, was arrested in New York on July 15 on a warrant issued by the U.S. Attorney’s office in Detroit. The feds allege that Arabov helped a drug organization called the Black Mafia Family launder millions of dollars in drug profits.