Hip-Hop Jeweler Arrested for Money-Laundering

Jacob the Jeweler, who has lit the wrists (and necks, fingers and ears) of artists like Jay-Z, Kanye West, and Lil Kim, was arrested Thursday (June 15) on money-laundering charges. The bling artist (born Yakov Arabov) was arrested at his midtown Manhattan store on suspicion of conspiring with a large group of others in Detroit (including members of the Black Mafia Family) in a massive drug trafficking and money-laundering ring, according to reports. Bail was set at $100,000 for Arabov on Thursday and the jeweler immediately paid for his release. During a hearing the same day, Arabov agreed to turn himself in to authorities in Detroit on July 12.

Talk: Will this diminish or heighten Arabov’s popularity in the hip-hop community? COMMENT

On the Web: jacobandco.com

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