Jacob The Jeweler Heads To Halfway House

(AllHipHop News) Jacob the Jeweler was transferred to a half-way house last week, after having a 2 ½ year prison term reduced by six months, for good behavior. Jacob the Jeweler was extremely popular in Hip-Hop circles, counting rappers like Sean “Diddy” Combs, Jay-Z and 50 Cent, as clients, in addition to pop stars like Bono, Sir Elton John and Madonna, who also frequented his flagship Manhattan store. Arabov, 44, ran afoul of the law in 2006, when he was indicted for helping members of the powerful Black Mafia Family (BMF) launder over $270 million in drug proceeds for the gang, which operated in almost every major city in the United States. He was sentenced to the prison term for allegedly falsifying documents and lying to authorities about the ownership of $5 million dollars worth of jewelry seized from BMF co-head, Terry Flenory.According to reports, Arabov’s sentence was reduced due to his work with charitable organizations. Arabov will run his Jacob & Co. jewelry business during the day and return to a half-way house each evening.