Jacob the Jeweler Forfeits $2 Million In Laundered Funds
Jacob Arabov has forfeited $2 million dollars in illegal proceeds, as a part of his plea agreement conviction for laundering the drug profits of a nationwide drug conspiracy network.
Arabov, known affectionately to Hip-Hop stars as “Jacob the Jeweler,” was sentenced to 2 ½ years in prison for lying to federal authorities about the ownership of $5 million worth of jewelry seized from Terry Flenory, co-head of the notorious Black Mafia Family that operated throughout the United States from 1990-2005.
Under law, drug forfeiture money appropriated by authorities can only be disbursed and used by law enforcement agencies.
Of the $2 million seized, $1.6 million was distributed to seven law enforcement agencies in and around Detroit, the Black Mafia Family’s original base of operations.
The Detroit, Groose Ile Township, Birmingham, and Livonia police departments received $267, 200, with the same amount going to the Livingston County Sheriff’s office.
The River Rouge Police Department received $198,800, while the Waterford Police Department retained $67,200.
The remaining $400,000 was kept by the federal government.
The Black Mafia Family was founded by the Flenory brothers Demetrius (“Meech”) and Terry (“Southwest P”) in the early 90s.
Their vast criminal empire drew extensive police attention when the group began publicly promoting themselves in Hip-Hop circles throughout Atlanta (Young Jeezy, Bleu DaVinci): throwing lavish parties, creating DVDs, and even erecting a prominent Billboard in the city.
In 2005, a series of drug raids and turns of key members into informants effectively the dismantled the drug trafficking organization.
Last year, both Flenory brothers were sentenced to 30 years in prison under CCE (Continuing Criminal Enterprise Law) classification.
-AllHipHop
Tags: $2, forfeits, funds, in, jacob, jeweler, laundered, million, music, news
Comment
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Comment by Rick Pommells on July 10, 2009 at 8:31pm - u kno its serious when even he iz in jail
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Comment by Slim on July 10, 2009 at 3:33pm - thats nothing im sure he still got some paper stored away 2 wipe his ass with if not then man down
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Comment by K MACC on July 10, 2009 at 2:15pm - DAMN iiiit.
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Comment by sdkid on July 10, 2009 at 2:01pm - someone dropped the dime of jacob
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Comment by SEAN on July 10, 2009 at 1:26pm -
CAUSE YA ASS DA POLICE, MY NIGGAS IS CRIMINALS!!!
THE FEDS GON SELL IT RIGHT BACK TO THE DEALERS!!!
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Comment by cary on July 10, 2009 at 10:24am - the police cant stand thugs makin money
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Comment by Ben on July 10, 2009 at 9:41am - REALLY MAKE MONEY. Become a wireless dealer with the fastest growing cell phone provider."D.O.I" Death Of Iphone. These phones are awesome. Unlimited Minutes, Unlimited Text, Unlimited Internet. The ability to connect to your laptop or desktop and access to the Internet, and eliminate your Internet bill all together. ALL FOR $79.95 WOW!!! .This is a product and an opportunity that sells itself. You can become a Distributor or see the phones by going to: www.mygvbiz.com/wirelessdeals OR IF YOU WOULD LIKE SOME MORE DETAILED INFO SEND AN E-MAIL @: BEN_POWELL3@YAHOO.COM No Credit Check
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Comment by HARLEM HELLFIGHTA on July 10, 2009 at 6:20am - the game is all fucked up they dont want a nigga to have shit for real not everyone is blessed with success in an appropriate manner but the struggle is the struggle and u have to come up how ever u can when u got bills to pay and fam to feed so fuck the law i ride and die as an outlaW CHASING PAPERAND MY DREAM TO BE A SUCCESS STORY AND IF EVER GIVEN THE CHANCE TO DO IT RIGHT I WOULD NEVER LET IT GO AND THATS WHY I GIVE 50 ALL THE CREDIT IN THE WORLD DO WHAT U DO AND KEEP IT POPPING MUCH RESPECT HOMIE HOLLA AT A REAL G FROM HARLEM. BIG UP MAX B UR BOI HARLEM HELLFIGHTA
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Comment by Vulcha & Official on July 10, 2009 at 1:49am - FUCK RICK ROSS
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Comment by Josh Direct on July 9, 2009 at 11:58pm - Yo, Jacob son, they got em. Crazy! Ill send em some comecery money if i had his s.i.d #.
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