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. Last Updated: 07/27/2016

Israel Charges Russian-Born Tycoon With Fraud

JERUSALEM — Israeli authorities have indicted a Russian-born tycoon who fled the country on charges of fraud and money laundering.

The indictment filed in a Tel Aviv court on Thursday says Arkady Gaydamak conspired with senior Israeli banking officials to conceal financial activities worth about $175 million.

Gaydamak was well-known in Israel for underwriting high-profile philanthropic projects and buying a popular football club. He left the country last year for Russia under police investigation and after an attempt to become mayor of Jerusalem ended in a humiliating defeat.

Gaydamak faces an international arrest warrant because of a French investigation into alleged arms trafficking to Angola in the early 1990s.