Jacob & Co. Founder Jacob Arabov Handed Prison Sentence

Jacob Arabov, founder of Jacob & Co. , was given a 30-month prison sentence in a U.S. District court in Detroit today, for falsifying records and lying to federal investigators on the trail of a multistate cocaine trafficking operation.  

Arabov, whose famously extravagant watches and jewelry have become essential accessories of hip-hop artists and other celebrities, pled guilty in October as part of a deal with federal prosecutors, who requested that Arabov be sentenced for a minimum of three years and one month.  

However, Judge Avern Cohn made the decision to reduce this recommended sentence, citing the businessman's involvement in various charities.

Arabov was indicted in 2005, for his alleged involvement with the "Black Mafia Family", a Detroit-based drug ring which began its operations in the 1990's.  At the time, Arabo was accused of conspiring with the group's leaders Demetrius and Terry Flenory to launder more than $270 million in drug profits. These charges were dropped, as part of Arabo's plea agreement.  

"I feel ashamed that I broke the laws of this country, a country that has been so good for me," Arabov said. "I will carry this shame for the rest of my life."

Jacob Arabov immigrated to the United States from the former Soviet Union in his teenage years, determined to find success as a jeweler.  Eventually able to open a Manhanttan jewelry boutique, Arabov rapidly ascended to the status of "King of Bling", his watches and jewelry being coveted and acclaimed by such pop A-listers as Shawn "Puff Daddy" Combs, Kanye West, Lil Kim, and Busta Rhymes, among scores of others.