The King Of Bling, Jacob The Jeweler, Is Busted

The hip-hop community is in crisis. 50-Cent, Nelly, Mary J. Blige and others be forced to shop at Kay Jewelers? Report at 11:00.

Jacob Arabo, known worldwide as Jacob the Jeweler, was arrested Thursday morning on charges stemming from a federal indictment of 16 people in Detroit. The May 10 indictment, from the U.S. Attorney of the Eastern District of Michigan and unsealed today, alleges 16 defendants violated federal drug laws and laundered in excess of $270 million.

We think TMZ commentor summed up the situation quite well:

1. I think that is f@#ked up. The problem is, people get to greedy. He had a legit business and had to go and f@#k it up. Pease Out!

Bling King Busted On Drug Charges [TMZ]

Tags: Arrested, Seal