Jacob The Jeweler Gets "Icy" Response From Rapper Clientele, Diddy & Busta Come to His Aid
The recent money laundering charges against Jacob the Jeweler are reportedly causing the "King of Bling" to lose support from some of his hip-hop clientele.
As previously reported, Jacob (born Jacob Arabov) was arrested outside his flagship store in New York in June on a warrant issued in Detroit by federal authorities accusing him with conspiring with others to launder money through his jewelry business.
The infamous jeweler was among 16 people indicted by a Michigan District Attorney in May for violating federal drug laws and laundering an excess of $270 million.
Jacob is accused of accepting "dirty" money generated by Atlanta-based drug organization the Black Mafia Family (BMF) and giving them jewelry in return without reporting the transactions.
According to The New York Daily News, twenty one of Jacob's high profile hip-hop clients including Kanye West, who were contacted by Vanity Fair's Nancy Jo Sales, refused to offer words of support for the infamous jeweler.
Arabov, who is awaiting trial, pleaded not guilty to the money laundering charges in a Detroit court in July and was released on $100,000 bond.
Despite being given the cold shoulder by West and others, Jacob got backing from Sean "Diddy" Combs and Busta Rhymes.
"It's hard not to become friendly with Jacob," said Diddy. "He's a cool cat."
"He's an incredible salesman. He knows how to charm the shit out of his clients and treat them with respect," added Busta Rhymes. "The charges are a bunch of bullshit. Anybody that affiliates themselves with people that are from the street, they always go the extra mile to investigate them. At the end of the day, why would Jacob come this far, purchasing a $12 million building on 57th St. - why would he do anything illegally?"
The aforementioned indictment, which is part of a previous indictment alleging that the BMF distributed 476 kilos of cocaine throughout the US since the early '90s, also seeks criminal forfeiture of more than 30 pieces of jewelry, in addition to a number of residences and cars.
Last year, the DEA arrested over 30 people affiliated with BMF Entertainment, seizing $3 million in cash, 2 kilograms of cocaine and various weapons.
Members of BMF were also associated, along with Young Jeezy, in the assault of Atlanta rapper Gucci Mane.
As previously reported, Jacob (born Jacob Arabov) was arrested outside his flagship store in New York in June on a warrant issued in Detroit by federal authorities accusing him with conspiring with others to launder money through his jewelry business.
The infamous jeweler was among 16 people indicted by a Michigan District Attorney in May for violating federal drug laws and laundering an excess of $270 million.
Jacob is accused of accepting "dirty" money generated by Atlanta-based drug organization the Black Mafia Family (BMF) and giving them jewelry in return without reporting the transactions.
According to The New York Daily News, twenty one of Jacob's high profile hip-hop clients including Kanye West, who were contacted by Vanity Fair's Nancy Jo Sales, refused to offer words of support for the infamous jeweler.
Arabov, who is awaiting trial, pleaded not guilty to the money laundering charges in a Detroit court in July and was released on $100,000 bond.
Despite being given the cold shoulder by West and others, Jacob got backing from Sean "Diddy" Combs and Busta Rhymes.
"It's hard not to become friendly with Jacob," said Diddy. "He's a cool cat."
"He's an incredible salesman. He knows how to charm the shit out of his clients and treat them with respect," added Busta Rhymes. "The charges are a bunch of bullshit. Anybody that affiliates themselves with people that are from the street, they always go the extra mile to investigate them. At the end of the day, why would Jacob come this far, purchasing a $12 million building on 57th St. - why would he do anything illegally?"
The aforementioned indictment, which is part of a previous indictment alleging that the BMF distributed 476 kilos of cocaine throughout the US since the early '90s, also seeks criminal forfeiture of more than 30 pieces of jewelry, in addition to a number of residences and cars.
Last year, the DEA arrested over 30 people affiliated with BMF Entertainment, seizing $3 million in cash, 2 kilograms of cocaine and various weapons.
Members of BMF were also associated, along with Young Jeezy, in the assault of Atlanta rapper Gucci Mane.
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