Jacob the Jeweler Released from Jail
After serving close to two years behind bars for his association with notorious drug trafficking organization the Black Mafia Family (BMF), Jacob Arabov, better known as Jacob the Jeweler, was recently released from prison.
According to the New York Post, the 44 year-old jeweler was sent to a halfway home on March 25 after spending 23 months in federal prison for lying to investigators, probing money laundering charges against BMF.
As previously reported, the Bukharian-American Jewish immigrant was arrested by the FBI in 2006 on money laundering charges. He later plead guilty to falsifying records and giving false statements—a plea deal he worked out in 2007 resulted in the money laundering charges being dropped.
He had been accused of using his jewelry business to launder upwards of $270 million for BMF. In October 2005, authorities raided the gang’s headquarters and 30 members were arrested during the massive bust. In 2006, 16 members were indicted on conspiracy charges to distribute cocaine and money laundering charges were also doled out bringing the total number in the bust up to 49 people.
As for now, the bling king is expected to remain in the halfway house, leaving in the day time to help his wife run their jewelry company in the day time and returning to the re-entry facility at night, until September. —Brooklyne Gipson