The Jewelry Insider

April 6, 2010

The once famous jeweler to the stars is no
longer in the Big House. Find out how he got his sentence reduced, and if he’ll be back to business as usual.

Diamond jewelry impresario, Jacob Arabov (aka Jacob the Jeweler), was the hottest
game in town back in 2008. But A-listers like Kanye West, Madonna and Puffy had
to bid adieu to their ice fix when the bling-meister was sent to the Big House for lying to investigators who were probing money
laundering by Detroit’s Black Mafia gang.

His original sentence was 2 1/2 years, but the judge cut it by seven months
citing Jacob’s good works for charity. Arabov, who is given shout-outs in 62
different rap songs according to the New York Post, is scheduled for
full release in September, but he’s biding his time in a half-way house in the
meantime.

As for his jewelry business, Jacob & Co.? His wife, Angela, has been
running the show in his absence, but Arabov can now join her during the workday
as long as he returns to his transitional home at night.

With diamond-obsessed rappers like
Lil’ Wayne behind bars himself, and the economy keeping big displays of bling to
a minimum, it will be interesting to see how the former diamond king adjusts to
a decidedly less icy jewelry kingdom. To be continued…

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