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Jacob Arabov, aka “Jacob the Jeweler,” has pleaded guilty to falsifying records and giving false statements to investigators looking into a multi-state drug ring. Terms of the plea deal, entered Wednesday in New York, calls for Arabov to serve up to 46 months in prison and pay a $2 million penalty, U.S. Attorney Stephen J. Murphy said in a news release. In exchange for the guilty plea, prosecutors agreed to dismiss the money laundering charges, according to Arabov’s attorney, Benjamin Brafman.
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