Jacob Arabov, 43, the jeweler who catered to celebrities, has been convicted and sentenced for doctoring his records and lying to the Federal government.
Jacob was sentenced to 2 and a half years imprisonment for lying to investigators working on a multi-state drug racket. He apologized for breaking the laws and said that he was ashamed of himself.
Police had arrested Jacob the Jeweler way back in 2006. He was surprised at his shop at the time of his arrest. Police charged him with conspiracy to launder $270 million in drug profits. The judge reduced the minimum sentence by 7 months because he said that Jacob did extensive work for charity. Jacob has to report to prison on Jan. 15 2009.