Jeweler to Celebrities, Jacob Arabov is Sentenced to Prison
Jacob Arabov, 42, a Manhattan jeweler to celebrities was caught and fined $50,000 in federal court in Detroit for lying to federal about the possessing jewelry that he got from a major cocaine trafficker.
In October Arabov pleaded guilty after lying about the ownership of $5 million worth of jewelry taken from the drug suspect, Terry Flenory and how connection with the “Black Mafia Family.” His case had a possibility of sending him to prison for 37-46 months. Except, the U.S. District Judge Avern Cohn had leniency because Jacob was known for being charitable and gave him until January 15th to report to prison for 30 months.
The jeweler told agents that he hadn’t actually sold the items, but loaned them to Flenory to help Flenory get the jewelry back. Both, Flenory and his brother, Demetrius Flenory are a part of 63 people that were suspected since the case in 2005. Why Arabov lied for Flenory is unclear at this point. The brothers pleaded guilty and are now waiting for the result in their case.
Arabov is quoted telling Judge Cohn, “I feel ashamed that I broke the law of this country that’s been so good to me and my family.”
Arabov is a Jewish immigrant from Uzbekistan who moved to the U.S. with his parents as a teenager. He entered the jewelry trade and later on opened the prominent jewelry store in Manhattan Jacob and Co. Many of his clients were celebrities who included hip hop star, Elton John and other entertainment and fashion celebrities.
Arabov did not need to cooperate against other defendants, but he did agree to forfeit $2 million to the government. In addition, one of his lawyers assured him that his business would continue running during his absence.
Dawn Ison and Michael Leibson, assistant U.S. Attorneys say they were very much satisfied with the outcome of Arabov’s sentence. The case was thoroughly inspected by the Drug Enforcement Administration and IRS Criminal Investigation.