Jacob the Jeweler sentenced to 30 Months in Jail
[ 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.
Comments
I heard he was going to go jail a year ago, but his lawyers made an agreement where he had a year to prepare his company for his time away.
Posted by: Baller | July 8, 2008 12:49 AM
He was already rich, too bad he let greed get the best of him.
Posted by: Ivan D | June 25, 2008 5:38 PM