KUALA LUMPUR, July 29 — Datin Seri Rosmah Mansor’s denial today that she bought a RM24 million Jacob & Co diamond ring has thrown a spotlight on the jeweller’s alleged money-laundering activities.
Questions have now arisen as to whether the name of the wife of Prime Minister Datuk Seri Najib Razak had been used without her knowledge by criminal elements as part of illegal activities.
Jacob & Co founder Jacob Arabo, whose custom diamond-encrusted wrist watches and chunky jewellery adorn Hollywood A-listers like Leonardo DiCaprio and hip-hop stars Kanye West and Jay-Z, is no stranger to such allegations.
The Uzbekistan-born Jew, described by the New York Times as the “Harry Winston of the hip-hop world”, has twice tangled with US federal law enforcement agencies.
In 1998, Arabo was arrested by the FBI for alleged criminal possession of stolen property. The charges were later dropped.
He was arrested by the FBI again in 2006, this time for allegedly laundering US$270 million (RM810 million) for the notorious Detroit-based Black Mafia Family (BMF) drug gang and failing to report large cash purchases to the Internal Revenue Service.
Arabo was accused of “facilitating the purchase of jewellery utilising the drug proceeds of (BMF leaders) Terry Lee Flenory, Demetrius Flenory in order to conceal the true source, nature and ownership of the funds involved in these transactions”, according to the US District Court in Detroit.
“Jacob the Jeweller”, as he is known in hip-hop circles, would later plead guilty to a lesser charge of lying to investigators in exchange for the more serious money-laundering charges being dropped.
According to the New York Post, the “King of Bling”, as he was labelled by the tabloid, pleaded guilty in federal court in Detroit in 2007, agreeing to serve between 37 and 46 months behind bars and pay US$2 million in penalties.
In exchange for the plea, prosecutors dropped more serious charges that he joined a money-laundering conspiracy to hide approximately US$270 million in dirty drug profits for the Black Mafia Family, the daily reported.
“I realise I have made a terrible mistake and I accept the consequences. America is the greatest country on earth and I have great regret that I violated the law,” Arabo was quoted by the New York Post as saying then.
The jeweller likely faced 15 years behind bars if he was convicted of money laundering.
His jail time was eventually cut by seven months on account of “charity work”.
Rosmah today dismissed allegations about the diamond ring raised three weeks ago by pro-opposition blogs as yet another lie to slander her.
She has faced continuous allegations of leading a lavish lifestyle ever since it became apparent that Najib would succeed Tun Abdullah Badawi as prime minister.
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