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Friday, July 10, 2009

Jacob the Jeweler Forfeits $2MIL in Laundered Funds


Jeweler to the rap stars, 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. Jacob was sentenced to 2 and a half 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.

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 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.

Lawd, I hope these brothas will eventually learn to let go of certain "circles" once they start getting legit money, because trust...they're gunning for the rappers.