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Jacob "The Jeweler" Arabov pleaded guilty on Wednesday to falsifying records and giving false statements to investigators looking into a multistate drug ring, The Associated Press reports. Arabov, 42, the "King of Bling," who has made custom jewelry for everyone from Kanye West to Bono, agreed to a plea deal that will have him serve up to 46 months in prison and pay a $2 million penalty in exchange for prosecutors dropping money-laundering charges against him. Arabov was arrested at his New York jewelry store in June 2006 and accused of being part of a conspiracy to launder about $270 million in drug profits for the Black Mafia Family, a crime ring that operated out of the Detroit area beginning in the early 1990s.
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