Wyclef Jean is being sued by diamond dealer to the hip-hop stars, Jacob the Jeweler, for an unpaid bill totaling over $300,000.According to the Associated Press, the suit was filed yesterday in a Manhattan court, claiming Wyclef has a debt for watches and jewelry he bought over a period of several years.

The suit claims the Haitian rapper bought the jewelry between March 2002 and January 2006 for $765,100. Jacob and Company Incorporated says Wyclef still owes $319,680, despite “repeated demands for payment.”

The Jeweler, born Jacob Arabov, was sentenced in June to 2 1/2 years in federal prison after pleading guilty to falsifying records and giving false statements to investigators about a multi-state drug ring. He was accused of helping to launder over $270 million in drug money for the Black Mafia Family (BMF) and began serving a 30 month federal prison sentence last month.

Reps for Wyclef could not be reached for comment. We at Hiphopspy have to say why waste so much money on bling. I mean whats the point.