Jeweler to the stars Jacob Arabov pleaded guilty Wednesday to falsifying records and giving false statements to investigators looking into a multistate drug ring.
Terms of the plea deal call for Jacob Arabov of New York to serve up to 46 months in prison and pay a $2 million penalty, U.S. Attorney Stephen J. Murphy said in a news release. No sentencing date was immediately set by U.S. District Judge Avern Cohn.
In return for the guilty plea, prosecutors agreed to drop money laundering charges against the man known in the hip-hop world as "Jacob the Jeweler," said Arabov's attorney, Benjamin Brafman.
Arabov, 41, known as "Jacob the Jeweler" was indicted in Detroit last summer for allegedly helping the "Black Mafia Family" and its principals, former Detroiters Demetrius and Terry Flenory, launder some $270 million in drug proceeds. Arabov pleaded not guilty to the charges.
His lawyer, Benjamin Brafman, said Arabov is a fundamentally honest citizen who used bad judgment in an attempt to conceal dealings with a small group of individuals. He said Arabov had accepted responsibility for his conduct and hopes the judge will consider his lifetime of business success and his charitable work in sentencing him.
"I have always been blessed with good fortune and loving friends and family," Arabov said in a statement issued by Brafman. "I realize I have made a terrible mistake and I am ready to accept the consequences of my actions… My desire is to do whatever I can to atone for my wrongdoings and move ahead with the great business I have built and the wonderful family that I love."
NOW THAT'S HOW IT'S DONE!
Thanks HHG.
No comments:
Post a Comment