Michael Steinhardt, a Hedge-fund pioneer and philanthropist has surrendered about a hundred and eighty (180) stolen antiquities estimated to be worth around $70 million.
Manhattan District Attorney, Cyrus Vance Jr., declared that Steinhardt has been banned for life from acquiring antiquities.
The District Attorney in a statement announcing the agreement with the billionaire said the items were surrendered after a probe in 2017 which looked into Steinhardt’s criminal conduct.
According to the DA’s office, the agreement, filed in Manhattan Supreme Court, ends a grand jury probe of Steinhardt, meaning he will not be criminally charged in the case.
According to the Statement of facts summarizing the investigation, the seized pieces were looted and illegally smuggled out of 11 countries, trafficked by 12 criminal smuggling networks, and lacked verifiable provenance prior to appearing on the international art market.
