King of Bling Going to the Clink
43-year-old Jacob Arabov copped a plea last October to doctoring records and lying to the Feds. Prosecutors had asked that he get three years, but a judge, citing Jacob's work with charities, gave him a break. He was also ordered to pay a $50,000 fine and pay a $2 million forfeiture payment to the government.
In court Jacob said "I feel ashamed that I broke the laws of this country, a country that has been so good for me. I will carry this shame for the rest of my life."
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