relogios jacob & c

[ via NYMag ]Jacob Arabov, aka "Jacob the Jeweler," (pictured above) just got sentenced to 30 months in jail according to WWD. Jacob, founder of Jacob & Co., will also have to pay a $2 million fine. The sentencing was related to a $270 million money laundering case, that he was arrested for back on June 15, 2006. Cool thing is, he had his lawyers postpone the sentencing until now, so he could prepare his company to operate in his absence.

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.