New York, NY - Jeweler Jacob Arabov Arrested

New York, NY - Famed jeweler Jacob Arabov, has been arrested at his midtown Manhattan store, on money laundering charges, a spokeswoman for the Drug Enforcement Administration, said.

Paul Wilmot, a spokesman for Arabov, also confirmed the arrest. "The arrest of Mr. Arabov is the result of an unfortunate misunderstanding that we believe will be straightened out in the next several weeks," said Wilmot, "We are confident that once the government is advised of all the facts surrounding these issues that all of the charges against Mr. Arabov will be completely dismissed."