Jacob Won't Let Fugee Flee with Bling

7/30/2008 3:30 PM PDT

Jacob Won't Let Fugee Flee with Bling

Talk about tightening credit: Jacob the Jeweler says he sold Wyclef Jean over $300K worth of bling -- apparently on his house tab -- that he hasn't collected on.

Jacob is suing Wy to collect on the $319,000 worth of jewelry he sold him between March 2002 and January 2006 -- like that money will do him much good in prison. He says the ex-Fugee bought $765K worth of bling but hasn't paid in full yet.

Jacob was just sentenced to two-and-a-half years in a federal pen for lying to investigators in a drug ring sting.

Wyclef's people didn't immediately respond to requests for comment.