Israeli businessman Arcadi Gaydamak was found guilty of arms trafficking in a Paris court today and convicted in absentia to six years in prison. Gaydamak and his business associate, the French magnate Pierre Falcone were accused of shipping €530 million worth of Soviet-made weapons to Angola in1993-1998. Falcone was also sentenced to six years in prison in absentia.
The trial involved 42 politicians, businessmen and members of the Paris elite and became known as "Angolagate." Former French Interior Minister Charles Pasqua received a one year prison sentence for his involvement in the affair and Jean-Christophe Miterrand, the son of former President Francois Miterrand was handed down a two year suspended prison sentence and a €370,000 fine for commissions received.
Gaydamak has been living in Russia since last November. He left Israel after receiving only 7,000 votes in his bid to become Jerusalem mayor. Earlier this month Gaydamak was indicted by Israel's State Prosecutor on money laundering charges. Most of Gaydamak's businesses in Israel have gone into receivership and he is involved in legal wrangles with a number of Israeli businessmen and former associates.
Last month he was ordered by the Tel Aviv District Court to pay NIS 100 million to Israeli businessman Levi Kushnir and Balram Chainrai, a British citizen. Gaydamak still owns Beitar Jerusalem football club although it is deep in debt.
It is unclear whether Russia will extradite Gaydamak to France to serve his prison sentence.
Published by Globes [online], Israel business news - www.globes-online.com
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