South African miners in the Kingdom of Lethoso have produced a 478 carat, nearly flawless D-colored Diamond found in the Letseng Mine at over 10,000 feet on September 8th.

The mine is 70% owned by mining group Gem Diamonds and 30% owned by the government of Lethoso.

While a similar, yet lesser quality diamond sold for $12 Million recently, the world’s largest diamond was found in South Africa back in 1905 and came in at 3,100 carats and produced over 100 separate gems, many of which make up the English Crown Jewels.

image via Yahoo News

Jacob Arabov, aka Jacob the Jeweler, aka the King of bling has been sentenced to 30 months in prison. Jacob, who has seen the Beckhams rocking his watches and who has been shouted out in songs by everyone from Missy Elliot, Diddy, Jay Z, etc is headed to the clink on charges of laundering up to $270 million in drug money for a Detroit based drug ring. My oh my…

Check out some of Jacob’s custom ice after the jump

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I love watches. Always have and always will. A watch doesn’t have to be crazy expensive or iced out for me to like it. I like everything from classic and understated to big, loud and obnoxious. One of my favorite watches I have come across recently is this special edition watch Nixon did for the opening of Barneys in Las Vegas. This watch has special details like a lucky horseshoe at the 12 o’clock position, four leaf clover at the 4 o’clock and the Chinese number eight at the 8 o’clock position. Mix in the black diamond bezel and the gold and chrome accents and this is one bad ass watch. It comes with a hefty price tag, going for $12k, but if you have that kind of cake I say go for it.

Via Hypebeast