Buried amid the roster of stars who were allegedly swindled out of millions by investment adviser Kenneth Starr is a familiar name to folks in the style world: Jacob Arabov, alias Jacob the Jeweler, jewelry-maker to the stars.
Arabov is described as "Client 6" in the complaint, though apparently his lawyer outed him as the well-known Manhattan-based jeweler, who was catapulted to stardom by outfitting the hip-hop world with increasingly ornate kinds of bling. According to The Times' report, Arabov invested nearly $14 million with Starr.
While Jacob the Jeweler (owner of Jacob & Company) initially earned his fame by serving up spectacular glittering accessories to hip-hop stars like Jay-Z and Sean "Diddy" Combs (earning him name-check status in dozens upon dozens of rap songs), he pled guilty and was sentenced to two and a half years in federal prison in 2008 for falsifying documents and lying to investigators working on a massive drug ring operation. Arabov was transferred to a halfway house only about two months ago, so needless to say this new legal tie-up is probably a seriously unwelcome addition to his almost-finished legal woes.