USA

Former hedge fund manager sells over $ 70 million in stolen antiques: NPR

Financier and philanthropist Michael Steinhardt will attend the Champions of Jewish Value International Awards Gala at the 2016 Marriott Marquis in New York.

Evan Agostini / Evan Agostini / Invision / AP


Hide captions

Switch captions

Evan Agostini / Evan Agostini / Invision / AP

Financier and philanthropist Michael Steinhardt will attend the Champions of Jewish Value International Awards Gala at the 2016 Marriott Marquis in New York.

Evan Agostini / Evan Agostini / Invision / AP

Turkish ceremonial cup in the shape of a stag’s head. Three death masks dating back to 6000 or 7000 BC, probably excavated from the mountains of Israel. Ancient Greek breasts for human remains.

These are one of 180 relics stolen by former hedge fund managers and philanthropists. Michael Steinhart It was handed over under an agreement with a New York City prosecutor. The contract, reached after a multi-year investigation into his activities, also beats Steinhardt with a lifetime ban on collecting other historical relics.

In exchange, Steinhard avoids prosecution for what authorities have called “a ferocious desire for predatory artifacts” across legal boundaries.

“Additions of’new’for exhibition and sale, as reflected in the vast underground world of ancient traffickers, criminal bosses, money launderers, and tomb intruders he relied on to expand his collection. The pursuit did not know the geographical or moral boundaries, “said Manhattan District Attorney Cy Vance, Jr. Said in a statement on Monday.

Steinhardt, also known for his work as co-founder of Birthright Israel, where young Jews are paying to visit Israel, has denied cheating in obtaining antiques. He said many of the dealers who sold the item to him claimed they were the legitimate owners of the object. “Mr. Steinhard is pleased that the district attorney’s many years of investigation have been completed free of charge and that items illegally taken by others will be returned to his home country,” said his lawyer, who was provided to the NPR. I read the statement.

Authorities say they will return about $ 70 million worth of 180 antiques to the “legitimate owners” of the 11 countries where they were born.

Vance said the decision not to prosecute Steinhardt meant that the relics could be returned more quickly and that witnesses and other parallel investigations remained secret.

Steinhardt’s investigation, also known as the co-founder of Birthright Israel, where young Jews are paying to visit Israel, began in 2017. It was revealed that he purchased some items from a known ancient trafficker without information. About their source. At least 100 pieces that Steinhart agreed to hand over appeared to be covered in soil before purchase. Authorities said this was a sign of looting.

Steinhart reportedly pointed to Larnax, the Greek chest who agreed to confiscate, in an exchange with an investigator over another antique-related subpoena, saying: I like it, and I buy it. “

A version of this story originally appeared In Morning Edition Live blog..

Former hedge fund manager sells over $ 70 million in stolen antiques: NPR

Source link Former hedge fund manager sells over $ 70 million in stolen antiques: NPR

Back to top button