Convicted felon Jacob the Jeweler, who is getting ready to serve a bid for lying to the feds about laundering money for the Black Mafia Family, is suing Wyclef. The jeweler largely responsible for most of the ostentatious "bling" weighing down the necks and wrists of hip hop's glitterati says Wyclef owes him more than $300,000, which he has refused to pay despite repeated requests from Jacob & Co. [AP]

Unfortunately for Jacob the Jewelry, having your name-dropped in countless rap songs holds little cache in the court of law. That's why the jeweler, a favorite of rappers and the bane of their financial advisers' existences, was just sentenced to 2.5 years in prison for lying to federal agents who were investigating the Black Mafia Family. He was originally accused of laundering $270 million dollars for the crime organization before striking a plea deal. [Vibe]