that_watch_guy Posted June 23, 2006 Report Share Posted June 23, 2006 Anyone see the latest People magazine? Looks like Jacob the Jeweler is in deep trouble. The article said that he knowingly accepting drug money, and laundered said money for some of his products. Looks like even "legitimate" watch makers have trouble with the law. He faces 20 years in prison if convicted. He was released on $100,000 bail. Quote Link to comment Share on other sites More sharing options...
woody Posted June 23, 2006 Report Share Posted June 23, 2006 In my opinion Jacob the jeweler never have that much rep in my mind. I think anyone can make their watch blinged out and sell it to celebrity, but there is not much design of his watches, nor any true watch history for that matter. I can't really say I am surprised, given the social circle that Jacob could hang out with, I think he gets more exposure to trouble than other watchmakers. Quote Link to comment Share on other sites More sharing options...
Craytonic Posted June 23, 2006 Report Share Posted June 23, 2006 Guess you can tell a man by the company he keeps. Quote Link to comment Share on other sites More sharing options...
that_watch_guy Posted June 23, 2006 Author Report Share Posted June 23, 2006 I tend to agree, when you are selling bling bling products, your clientele isn't always going to be on the up-and-up. I also think his watches aren't that spectacular, lots of them just use crapo quartz movements, all he does is throw a bunch of diamonds on them and sell them to gullable celebrities. Quote Link to comment Share on other sites More sharing options...
KB Posted June 23, 2006 Report Share Posted June 23, 2006 20 years gaol (jail)!!!! Can't they at least shoot him <--------- Chicken Licken Ken Quote Link to comment Share on other sites More sharing options...
Bignasty Posted June 23, 2006 Report Share Posted June 23, 2006 Yeah never liked the Jacob line of watches. Especially when I was drooling all over the Tourneau window displays and saw that they were quartz. What crap. I guess if you are going to sell a watch to a ballerific rapper then you should request they use their American Express Centurion card which is only available to supposedly the filthy rich! I'm sure he'll beat the case though. Jon Quote Link to comment Share on other sites More sharing options...
jkerouac Posted June 24, 2006 Report Share Posted June 24, 2006 He probably got caught because he was too open or accommodating in his business practices -- otherwise a lot of luxury car dealers would find themselves in a similar spot. His new business resolution: Let the dealers' attorneys or business agents do the laundering. They probably get paid a lot more for the potential risks they take. Quote Link to comment Share on other sites More sharing options...
Bignasty Posted June 24, 2006 Report Share Posted June 24, 2006 He probably got caught because he was too open or accommodating in his business practices -- otherwise a lot of luxury car dealers would find themselves in a similar spot. His new business resolution: Let the dealers' attorneys or business agents do the laundering. They probably get paid a lot more for the potential risks they take. Any cash purchases over I beleive $12000 have to be reported to the IRS. If they haven't reported that income or can't justify it, then they could get audited by them. Wonder if something like this happened and Jacob wasn't reporting the cash. Quote Link to comment Share on other sites More sharing options...
ehtolcad Posted June 24, 2006 Report Share Posted June 24, 2006 gran's going to be devastated Quote Link to comment Share on other sites More sharing options...
Chronus Posted June 24, 2006 Report Share Posted June 24, 2006 gran's going to be devastated Peeeeeeeeeeeeeeeeeeeeeeeeee... Quote Link to comment Share on other sites More sharing options...
thomasng Posted June 25, 2006 Report Share Posted June 25, 2006 Jacob & Co. watches= Tasteless, ugly, expensive crap that can barely be called a watch to begin with. Quote Link to comment Share on other sites More sharing options...
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