‘Jacob the Jeweler’ Sentenced To 30 months in US prison
The New York businessman known in the hip-hop world as “Jacob the Jeweler”, was sentenced Tuesday to 2 1/2 years in federal prison for lying to investigators during a multistate drug ring bust.
Jacob Arabov, 43, pleaded guilty in October to falsifying records and giving false statements as part of a deal with federal prosecutors, who asked U.S. District Judge Avern Cohn to impose a minimum sentence of three years and one month.
Cohn also ordered the Russian immigrant to pay a $50,000 fine and to make a $2 million forfeiture payment to the government.
“I feel ashamed that I broke the laws of this country, a country that has been so good for me,” Arabov said. “I will carry this shame for the rest of my life.”
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