If you listen to hip-hop, then you probably know who Jacob The Jeweler is. Well Yakov "Jacob the Jeweler" Arabov
was arrested yesterday in his mid-town New York
store on charges of conspiring to launder some $270 million dollars on behalf
of the Black Mafia Family.
In addition, the authorities are claiming he also intended
to distribute 476 kilograms of cocaine, also for the Black Mafia Family. The Russian immigrant appeared in a Manhattan
US District court today before being released on a $100,000 bail.
Jacob & Co.’s
spokesperson Paul Wilmot told the Press
that the arrest was "the result of
an unfortunate misunderstanding that we believe will be straightened out in the
next several weeks. We are confident that once the government is advised of all
the facts surrounding these issues that all of the charges against Mr. Arabov
will be completely dismissed.”