Rudy Giuliani is an opera aficionado. But when it comes to jewelry, he prefers to sing about bling. Giuliani, a longtime Yankee fan, commissioned a Yankee themed watch custom designed by Jacob Arabov. The jeweler is also known as "Jake the Jeweler" by his core clientele of Hip Hop artists and Rappers. So rather than wear a "ho hum" Harry Winston staple, Rudy opted for the flash bought with cash. And herein lies the problem.
On June 15, 2006, Jake was marched out of his trendy east side store in handcuffs. Before he could remove his dollars from the spin dry cycle, feds charged him with money laundering. As they slipped the unfashionable bracelets on him, he remarked to a policeman, "Oh, I knew your boss, or your former boss. Yeah, Rudy Giuliani. I made his Yankee watch-very close friend of mine." That puts Rudy in the company of Sean Puffy Coombs, Tupac Shakur, Fifty Cent and Notorious Big, all clients of Arabov past and present. The clients that drew the feds to Arabov are a group called the Black Mafia. The government maintains that the Entertainment organization is a front for a $270 million dollar cocaine ring including murder. Arabov's accountant told police that Rappers brought money in by the bag load. "They would come in with bags of money. Most times, we would count it upstairs, but sometimes, they would count the money right downstairs." Why bother with cash if you don't have to?
Arabov's baubles are not cheap. They are expensive, ostentatious designs fit for the nouveau riche. But if diamonds are a girl's best friend, they appear to be politician's also. They keep the ego afloat. The money bought Arabov a $100,000 get outta jail bail and a high priced lawyer.
Despite their appeal to change the venue from Detroit to New York, the motor city won out. Arabov's trial is scheduled for later this year. Arabov is calling on good friends to testify as defense witnesses. Will Rudy take the stand on Jake's behalf? It remains to be seen. But first.....he has to check his watch for the time.
Photo displayed shows Jacob Arabov with Rapper Fifty Cent.