Russian-Israeli tycoon Arkady Gaydamak is in the midst of a dispute with Angolan President Jose Eduardo Dos Santos and was asked to leave the country, reported a London-based newspaper that specializes in African affairs.

According to the newspaper, "African Confidential", Gaydamak was forced to leave the state's capital, Luanda, last month in haste after presidential aides told him that he should leave the country.

"African Confidential", which is considered one of the most reliable sources of information from Africa, did not elaborate on the nature of the dispute.

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Arkady Gaydamak is considered one of the leading international businessmen in Angola, and was known for his strong ties to the Angolan President.

Gaydamak holds an Angolan diplomatic passport, which he was given in honor of the weapon deals he made with the USSR and Czechoslovakia during the Angolan civil war in the 1990s.

In exchange for his help in the arming of Angola, Gaydamak received concessions and permits for Angolan oil production and diamond mines.

Five years ago, the Angolan president came to Gaydamak's rescue after the latter was wanted by French police on fraud charges.

"African Confidential" editor, Patrick Smith, told Haaretz on Wednesday that the article is based on reports from three top Angolan governmental officials.

Gaydamak refused to comment on the matter, while the Angolan embassy in Tel Aviv said that Gaydamak has not been in Angola for the past two or three months.

The embassy speaker was unable to give more details regarding the relationship between Gaydamak and the Angolan government.

State likely to return Gaydamak's funds, continue laundering probe


The state is likely to announce Thursday the release of NIS 4 million belonging to Russian-Israeli tycoon Arcadi Gaydamak that was seized during an investigation into possible money-laundering. The maximum period for holding the money has expired.

The Tel Aviv District Prosecutor's Office is expected to decide in the next few weeks whether to charge Gaydamak with money laundering or with failure to report earnings. Sources at the prosecutor's office say the decision to release the seized funds has no bearing on the proceedings and does not imply that the case will be closed.

The original 180-day lien on the money was extended twice but cannot be extended further.

The police's national fraud squad has been investigating for two years whether Gaydamak had used the account of an associate, Nahum Galmor, at the Hayarkon Street branch of Bank Hapoalim in Tel Aviv to carry out the illegal transfer of funds. The police suspect that Gaydamak was an undeclared beneficiary of the account.

Gaydamak's attorneys are Dan Meridor, Shlomo Ben-Arie and Ronen Rosenblum.