< Back to previous page

Billionaire charged with fraud

Published on 2 Oct 2009 under category: legal

A billionaire has been charged with fraud, it has been revealed.

Russian-Israeli tycoon Arkady Gaydamak is also facing legal action regarding alleged money laundering.

Mr Gaydamak is wanted in Israel, however, it is thought that he is currently in Russia.

The fraud crime allegations relate to accusations that he attempted to purchase a Dutch firm without stating his role in the deal.

A statement from the billionaire's lawyer said: "Arkady Gaydamak has asked me to announce that he intends to return to Israel for his trial in order to show that there is no substance to the charge and to prove that he is being wrongfully persecuted."

It is alleged that he tried to conceal activities worth around $175 million (£110 million), which is against Israeli law.

Earlier this week, it was revealed that BAE Systems could face criminal charges linked to some of the contracts won by the manufacturer after an investigation by the Serious Fraud Office.

If you require advice on Corporate Fraud please call us on +44 (0)20 7831 0101 and ask for Dan Hyde.