Jacob The Jeweler

Jacob The JewelerAfter being sentenced to 2 1/2 years in prison for helping launder money for drug kingpins at BMF, famed New York jewelry man Jacob Arabov (known throughout the industry as Jacob The Jeweler) was reportedly released last month.

According to the New York Post, the 44-year-old jeweler has been sent to a halfway house on March 25th to serve out the remainder of his sentence.

The paper says the judge cut his sentence by seven months citing Jacob’s good works for charity.

Arabov was busted in 2006 by the DEA for allegedly laundering more than $270 million in drug profits for the infamous Black Mafia Family, known throughout the hip-hop industry as BMF, and sentenced to 2 1/2 years in prison.

Now, if all goes well with his halfway house stay, the jeweler should be free by September.

Under the terms of his release, Arabov will be allowed to run his Jacob & Co. business with wife Angela, but will have to return to the “residential re-entry facility” each night.

Jacob became such a staple in the hip-hop biz that he’s received shoutouts in more than 62 rap songs.