Tel Aviv District Court Judge Uri Shoham on Sunday wrote in a ruling that there seemed to be sufficient evidence to indict billionaire Arcadi Gaydamak for alleged money laundering.

"I've closely reviewed the classified information presented to me which details the evidence and testimonies gathered in the affair and I have reached the conclusion that there is apparently a base of evidence to justify an indictment...," Shoham wrote.

However, Shoham added that his ruling did not present a "legal opinion of any sort whether or not Gaydamak should be indicted, or what legal course of action be taken."

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In his ruling Shoham also approved the prosecution's request to temporary confiscate NIS 4.9 million for a 90-day period.

The Tel Aviv District Attorney submitted the request some two weeks ago, arguing the funds should remain in state-hands if and when Gaydamak is convicted.

In response, Gaydamak's lawyer, Shlomo Ben-Aryeh said that, by law, the allegedly laundered money was not at the disposal of the state.