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Jacob Arabov, better known as "Jacob The Jeweler" and the "King of Bling," was sentenced to 2 1/2 years in prison and fined $2 million in federal court in Detroit Wednesday. News reports indicated that Arabov was convicted of lying to federal agents about owning jewelry seized from a major cocaine trafficker.Arabov, 43, pleaded guilty in October to falsifying records andgiving false statements as part of a deal with federal prosecutors. "I feel ashamed that I broke the law of thiscountry that's been so good to me and my family," said Jacob to U.S.District Judge Avern Cohn.Arabov immigrated from Soviet Uzbekistan at 14 and built a successful New York jewelry and watch business.Eventually, he opened Jacob and Co., a Manhattan jewelry and watch store whoseclients include countless entertainers and celebrities, especially hip-hop and R&B artists.

'Jacob the jeweler' as we all know him, is the elite class's most sought after jeweler. But very few people are aware of his line of watches. And the latest limited edition watch by Jacob & Co. is just another example of his luxurious watch making style. Known as The Manhattan, this watch is signature Jacob with its extravagant style and finish. Jacob has smartly incorporated his jewels into this watch, making it a complete stone studded affair. The hour and minute hands of this beauty are encased in a 3D box and studded with sparkling diamonds. But what sets this watch apart is its unique 3 dimensional dial, which features names of different areas of New York City. The places include New York's famous Park Avenue, Wall Street, 5th Avenue, and Times Square, all of which are used as hour markers for the 1,2, 4, 5, 7,8, 10, and 11 o'clock markers.