[ via NYMag ]

Jacob Arabov, aka "Jacob the Jeweler," (pictured above) just got sentenced to 30 months in jail according to WWD. Jacob, founder of Jacob & Co., will also have to pay a $2 million fine. The sentencing was related to a $270 million money laundering case, that he was arrested for back on June 15, 2006. Cool thing is, he had his lawyers postpone the sentencing until now, so he could prepare his company to operate in his absence.

"Jacob the Jeweler" of Jacob & Co. a celebrity jeweler who put diamonds on celebrities from Elton John to Kanye West pleaded guilty Wednesday to falsifying records and giving false statements to investigators looking into a multistate drug ring.

Terms of the plea deal call for Jacob Arabov of New York to serve up to 46 months in prison and pay a $2 million penalty, U.S. Attorney Stephen J. Murphy said in a news release. No sentencing date was immediately set by U.S. District Judge Avern Cohn.

In return for the guilty plea, prosecutors agreed to drop money laundering charges against the man known in the hip-hop world as 'Jacob the Jeweler,' said Arabov's attorney, Benjamin Brafman.

Falsifying records does not sound like a charge that should receive 46 months in prison, but I guess we will see.

Dreamwatches

Check out this unique looking Quenttin watch from Jacob & Co.
It looks like a very complicated piece, so I am guessing it is a very expensive piece. It is different looking, although I like watches that do not like every other watch.

[ via Jacob & Co. ]

Check out this Jacob & Co. Special Edition Playboy ladies wristwatch. Loaded with pink and white diamonds, and a pink alligator leather strap. It also comes in a black and white diamond version, with a black alligator leather strap.

http://jacobandco.com

Here is the new Diamond Baguette Limited Edition Tourbillion from JACOB & Co.

Jacob Arabo's passion for jewelry began early as a young boy growing up in Russia. After migrating to the United States, Jacob, age 16, enrolled in a jewelry design course to develop his natural talents. Immediately recognizing his obvious gifts and ability, his instructors encouraged him to leave the course.

Jacob was soon designing his unique pieces in New York's famed Diamond District for a number of jewelry labels and private clients. Finally, in 1986, Jacob opened his business and began designing products under his brand, JACOB & Co. In the mid-to late1990's, many music industry icons - as well as up and coming recording artists - were taken by Jacob's unique creations. Personalities such as Whitney Houston and Mary J. Blige recommended Jacob to a host of their high profile male and female friends, spawning a buzz throughout the music industry which continues to resonate today.

Soon, Jacob Arabo became the go-to-guy for jewels throughout the music, entertainment, fashion and sports world, with the biggest names in the business becoming faithful clients of Jacob's.