Jacob the Jeweler, bling technician to the stars, has pleaded guilty to charges of lying to investigators and falsifying documents. Jacob Arobov's arrest in June was for the far more serious offense of money laundering. Authorities claim Arobov accepted $270 million in "dirty" money from the Black Mafia Family, then returned the funds in jewelry. The Black Mafia Family are a former multi-city drug syndicate turned entertainment empire, with mixtape and DVD releases alongside vague, lingering criminal ties. Arobov will face $2 million in fines and up to 46 months in prison.
Source: SOHH.com