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In the 1990s he was awarded the French Ordre national du Mérite and the Ordre du Mérite agricole for actions taken to rescue personnel in the War in Bosnia. In the AngolaGate scandal, he was convicted of failure to declare income. On 24 November 2015, he started serving a prison sentence at Fresnes prison in France for that tax issue.

In October 2009, Gaydamak and French magnate Pierre Falcone were convicted by a French court of organizing arms trafficking in Angola during the civil war in 1993–1998, to the value of US$790 million, in violation of the Lusaka Protocol. He was sentenced in absentia to six years in prison. His conviction on the arms dealing charges was overturned by the Court of Appeal in Paris on 29 April 2011. The only conviction remaining was for his incomplete 1994 tax declaration.

In July 2009, Gaydamak announced his decision to give up the ownership of Beitar Jerusalem in favor of Itzik Kornfein and Guma Aguiar. Kornfein would handle buying and selling players, while Aguair would engage in financing.

In December 2008 Gaydamak was reported to have left Israel and returned to Russia, settling in Moscow. In February 2009 it was reported that he was seeking to regain his Russian citizenship, lost when he emigrated to Israel decades before.

Gaydamak ran for mayor of Jerusalem in November 2008, but his party won no seats on the city council. During the campaign, Gaydamak courted the East Jerusalem Palestinian vote. Gaydamak approached the Grand Mufti of Jerusalem, Muhammad Ahmad Hussein, Palestinian political figures and media, and came away with a near endorsement.

In February 2007, seeing the social issues in Israel, Gaydamak founded a party devoted to socio-economic issues, which he named Social Justice. Although the organization was established as a social movement, he said it could become a political party if the circumstances warranted it. In late 2007, the party contemplated taking part in the 2008 municipal elections.

In June 2007, Gaydamak negotiated a deal to buy the non-kosher supermarket chain Tiv Taam. It was reported that he was planning to make the stores comply with Jewish religious practice: close them on Shabbat and halt the sale of pork products. A few days later the deal fell through, resulting in a lawsuit.

In March 2006 he announced having bought the French newspaper France Soir via his company Moscow News. He had purchased the Russian Moskovskie Novosti newspaper in 2004, fired some senior journalists, and changed the paper's mandate to a firmly pro-government one, appointing a pro-Putin journalist as editor-in-chief.

In January 2006, Portsmouth F.C. were sold to his son, Alexandre Gaydamak by Milan Mandarić. Gaydamak later sold the club to Ali al-Faraj in 2009.

During the 2006 Israel-Lebanon conflict, Gaydamak constructed a tent-village on the beach of Nitzanim, hosting thousands of families who fled the rocket-ridden North and had no place to go. Gaydamak's contributions totaled $15 million (about $500,000 a day). In November 2006, he funded a one-week-long vacation in Eilat for hundreds of Sderot residents who have suffered rocket attacks from Gaza.

In July 2005, Gaydamak became sponsor of the Hapoel Jerusalem basketball team. The following month he donated $400,000 to the Israeli Arab Bnei Sakhnin football club. On the same day, Gaydamak announced the purchase of 55% of the ownership of Beitar Jerusalem, and two days later he announced the acquisition of full ownership. Gaydamak is the patron of several Jewish charities and president of the Congress of Jewish Religious Communities and Organizations of Russia (KEROOR), Russia's oldest Jewish umbrella group. In the summer of 2008, Gaydamak claimed his son Alexandre was owner of Portsmouth F.C., and it was confirmed by the Premier League.

Gaydamak won two citations from the French government: Chevalier de l'Ordre national du Mérite and the Ordre du Mérite agricole for helping to rescue two captured French pilots in the War in Bosnia in the 1990s, as well as two French intelligence officers captured by rebel factions in the Caucasus. Because these operations were secret, the citations referred to his contribution to agriculture. Former French interior minister Charles Pasqua confirmed this, saying that President Jacques Chirac had personally authorized the citations.

In 1982, Gaydamak Translations opened a branch in Canada. During that period he commenced international business, in import and export. After the collapse of the USSR, he built up ties in Russia and Kazakhstan and formed various business organizations across Europe.

Arcadi Aleksandrovich Gaydamak (Hebrew: ארקדי אלכסנדרוביץ' גאידמק ; Russian: Аркадий Александрович Гайдамак ; born 8 April 1952 in Moscow, USSR) is a Russian-born French-Israeli businessman, philanthropist, and President of the Congress of Jewish Religious Communities and Organizations of Russia (KEROOR). He emigrated to Israel at the age of 20 and lived on a kibbutz, then moved to France and opened a translation bureau.

Arcadi Gaydamak was born in 1952 in Moscow, the capital of the USSR. At the age of 20, Gaydamak was one of the first Jews to emigrate to Israel from Leonid Brezhnev's Soviet Union and receive Israeli citizenship. He lived on Kibbutz Beit HaShita, and studied Hebrew at an ulpan. He said he originally intended to serve in the Israeli Army, but ended up moving to France, where he opened a translation bureau.

In the early 21st century, Gaydamak returned to Israel, where he founded Social Justice, a movement that became a political party. He ran for mayor of Jerusalem but did not win. He bought Hapoel Jerusalem, a professional basketball club. He also bought two newspapers, one in France and one in Russia. He directed the latter to take a pro-government/Vladimir Putin editorial stance. In Israel he has been a generous philanthropist.