The jeweler known for giving hip-hop heavyweights such as Kanye West and Diddy their custom iced-out jewelry was arrested on Thursday (June 15) for his alleged involvement in a multi-state drug and money-laundering ring.
Jacob The Jeweler (real name: Jacob Arabove) was arrested by DEA task force officers at his 57th Street store in New York and charged with money-laundering, due to a warrant issued in Michigan’s Eastern District Court last month.
The 41-year-old Russian immigrant was one of 41 people named in a federal indictment handed out in Detroit last month, which includes charges ranging from drug trafficking, money-laundering and conspiracy.
Federal authorities say those indicted are connected with the Black Mafia Family, who is known throughout the hip-hop industry as BMF, an independent record label who have put out records in Atlanta over the past few years.
Jacob is known as one of the most recognized names in hip-hop, due to his clientele of artists including Diddy, Jay-Z, Busta Rhymes and Lil Kim, among others.
Arabove and his attorneys have declined to comment. His bail was set at $100,000, which he immediately had paid.
He agreed to turn himself in, in Detroit on July 12 during a hearing in Manhattan shortly after his arrest.