Jacob the Jeweler Turns to Clients to Testify in Money Laundering Case

Jacob Arabov, most widely known by his moniker, Jacob the Jeweler, has asked his clients and friends to testify on his behalf during his federal money laundering trial. Arabov expects the likes of Mariah Carey, Sean Combs, and Jay-Z to take the stand to attest to his good standing with them and his ethical business practices, which are currently in question. Jacob the Jeweler has been charged with helping a ring of drug dealers, the Black Mafia Family (BMF), who operated under BMF Entertainment, launder over $270 million in illegal drug profits. $11 million in liquid and assets and 650 kilograms of cocaine were seized by the DEA.

Salaries Increase for Top Law Firm Newbies

The new wave of law school grads with positions waiting at top law firms can expect to see more cash than last year’s crop of newbies. With New York based Sullivan & Cromwell offering a base salary of $145,000 to new associates, many new lawyers can expect other top firms to up the ante to attract the best of the best new talent. Read more….[New York Times]