Gaydamak Backtracks on Philanthropy

from today’s Haaretz:

Tycoon Arcadi Gaydamak halts flow of cash to Israeli charities

TheMarker has learned that over the past few months, Russian-Israeli tycoon Arcadi Gaydamak has not made good on promises to transfer large funds to a number of Israeli charities.

Attorney David Brodetzky, the legal adviser for Gaydamak’s Social Justice political party, confirmed Saturday that the billionaire businessman had halted the flow of financial donations.

Gaydamak’s donations in recent years had totaled in the tens of millions of dollars. Half a year ago he froze the activities of the Gaydamak Foundation, an organization that was supposed to concentrate the businessman’s charitable activities. The foundations offices in Givat Shaul in Jerusalem are now closed.