Jacob The Jeweler pays the government $2 Milli. According to All Hip Hop:
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.
That’s crazy. I wonder what they will do with all that money.