Posted on Dec 7, 2021
Avoiding trial, a former hedge fund manager turns over $70 million in stolen antiques
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https://www.npr.org/2021/12/07/ [login to see] /michael-steinhardt-antiquities-prosecutor-seized-hedge-fund
A ceremonial cup from Turkey in the shape of a stag's head. Three death masks, likely unearthed from the mountains of Israel, dating back to 6000 or 7000 B.C. An ancient Greek chest for human remains.
Those are among the 180 stolen antiquities that former hedge fund manager and philanthropist Michael Steinhardt turned over under an agreement with New York City prosecutors. The deal, reached after a multiyear investigation into his activities, also slaps Steinhardt with a lifetime ban on collecting any other historical relics.
In exchange, Steinhardt will avoid prosecution for what authorities have called his "rapacious appetite for plundered artifacts" that crossed legal lines.
"His pursuit of 'new' additions to showcase and sell knew no geographic or moral boundaries, as reflected in the sprawling underworld of antiquities traffickers, crime bosses, money launderers, and tomb raiders he relied upon to expand his collection," Manhattan District Attorney Cy Vance Jr. said in a statement on Monday.
A ceremonial cup from Turkey in the shape of a stag's head. Three death masks, likely unearthed from the mountains of Israel, dating back to 6000 or 7000 B.C. An ancient Greek chest for human remains.
Those are among the 180 stolen antiquities that former hedge fund manager and philanthropist Michael Steinhardt turned over under an agreement with New York City prosecutors. The deal, reached after a multiyear investigation into his activities, also slaps Steinhardt with a lifetime ban on collecting any other historical relics.
In exchange, Steinhardt will avoid prosecution for what authorities have called his "rapacious appetite for plundered artifacts" that crossed legal lines.
"His pursuit of 'new' additions to showcase and sell knew no geographic or moral boundaries, as reflected in the sprawling underworld of antiquities traffickers, crime bosses, money launderers, and tomb raiders he relied upon to expand his collection," Manhattan District Attorney Cy Vance Jr. said in a statement on Monday.
Avoiding trial, a former hedge fund manager turns over $70 million in stolen antiques
Posted from npr.org
Antiques
Art
Culture
World History
Posted >1 y ago
Responses: 4
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There are a gazillion dollars' worth of stuff just sitting under the dirt somewhere waiting for someone to dig it up, or should that be a bazillion? Which one is bigger?
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PO1 William "Chip" Nagel
..."Steinhardt, who is also known for his work as a co-founder of Birthright Israel, which pays for young Jewish adults to visit Israel, has denied any wrongdoing in acquiring the antiques. He said many of the dealers who sold him items claimed that they were the objects' lawful owners. "Mr. Steinhardt is pleased that the District Attorney's years-long investigation has concluded without any charges, and that items wrongfully taken by others will be returned to their native countries," read a statement from his attorneys provided to NPR.
Authorities say they'll return the 180 antiques, valued at around $70 million, to their "rightful owners" in the 11 countries where they originated."...
..."Steinhardt, who is also known for his work as a co-founder of Birthright Israel, which pays for young Jewish adults to visit Israel, has denied any wrongdoing in acquiring the antiques. He said many of the dealers who sold him items claimed that they were the objects' lawful owners. "Mr. Steinhardt is pleased that the District Attorney's years-long investigation has concluded without any charges, and that items wrongfully taken by others will be returned to their native countries," read a statement from his attorneys provided to NPR.
Authorities say they'll return the 180 antiques, valued at around $70 million, to their "rightful owners" in the 11 countries where they originated."...
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