Billionaire hedge fund manager Michael Steinhardt agrees to surrender stolen antiquities valued at $

[Eugene]

Also: D.A. Vance: Michael Steinhardt Surrenders 180 Stolen Antiquities Valued at $70 Million (District Attorney - Manhattan County)

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Source: ABC (Australia)

Billionaire hedge fund manager Michael Steinhardt agrees to surrender stolen antiquities valued at $99 million

Posted 7h ago7 hours ago, updated 7h ago

A billionaire US hedge fund manager with a "rapacious" appetite for looted artefacts has agreed to turn over $US70 million ($99 million) worth of stolen antiquities and will be banned from buying any more for the rest of his life, Manhattan's District Attorney says.

In return, Michael Steinhardt will not face criminal charges for acquiring pieces that were smuggled out of 11 countries including Egypt, Greece, Israel, Syria and Turkey, prosecutors said.

"For decades, Michael Steinhardt displayed a rapacious appetite for plundered artefacts without concern for the legality of his actions, the legitimacy of the pieces he bought and sold, or the grievous cultural damage he wrought across the globe," District Attorney Cyrus Vance Jr said in a news release.

Mr Vance said his probe, begun in February 2017, found "compelling evidence" that the 180 antiquities were stolen from 11 countries, with at least 171 passing through traffickers before Mr Steinhardt bought them.

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Read more: https://www.abc.net.au/news/2021-12-07/billionaire-michael-steinhardt-surrenders-180-stolen-antiquities/100679876

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Source: District Attorney - Manhattan County

D.A. Vance: Michael Steinhardt Surrenders 180 Stolen Antiquities Valued at $70 Million

DECEMBER 6, 2021

Manhattan District Attorney Cy Vance, Jr. today announced that MICHAEL STEINHARDT, one of the world’s largest ancient art collectors, has surrendered 180 stolen antiquities valued at $70 million and received a first-of-its-kind lifetime ban on acquiring antiquities, following the resolution of a multi-year, multi-national investigation into his criminal conduct. 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, according to the Statement of Facts summarizing the investigation.

“For decades, Michael Steinhardt displayed a rapacious appetite for plundered artifacts without concern for the legality of his actions, the legitimacy of the pieces he bought and sold, or the grievous cultural damage he wrought across the globe,” said District Attorney Vance. “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.

-snip-

Read more: https://www.manhattanda.org/d-a-vance-michael-steinhardt-surrenders-180-stolen-antiquities-valued-at-70-million/

[LakeVermilion]

1. Guy steals $100 million, gets slap on the wrist...

A justice system for the wealthy.

The "old boys" club will laugh it off.

How about restitution for $20.00? George Floyd got the death penalty.

[viva la]

10. Shoplift, and go to jail.

I think we should have a put a billionaire in jail week every year.

[rainin]

2. This is disgusting. n/t

[2naSalit]

3. So what did he get to keep?

Bet he's not giving up the whole inventory. This is the kind of shit that reveals how we are not considered equal in the eyes of many.

[abqtommy]

4. Turning over stolen artifacts is good but some jail time for Steinhardt would be much,

much better.

[GoCubsGo]

5. Ooooh. He gets banned from buying more.

Big fucking deal. He needs to be replacing the poor saps who are serving years for stealing a pack of gum. Disgusting.

[csziggy]

11. Yeah - he wasn't supposed to be buying any in the first place

What's to stop him from starting all over again, illegally buying more stuff? Nothing since the worst that will happen to him is that he will have to give up his prizes.

For many collectors, the thrill is in the collecting, not even necessarily in the having. Now he can begin a new collection with all the thrills involved in hunting down a new variety of items.

[onethatcares]

6. good thing

he wasn't selling singles.

"Money doesn't talk, it screams" thank you Bob Dylan.

[uponit7771]

7. Yeah, more indicators Putin's Whore isn't going to face real justice. This guy KNOWINGLY buys stolen

... goods and has to give them back and gets no jail time but you know he can't "buy" other stolen shit.

My God ... fuck it ...

[JHB]

8. "Banned from buying any more" of smuggled, illegally acquired goods?

Did they miss the "sprawling underworld of antiquities traffickers, crime bosses, money launderers, and tomb raiders he relied upon to expand his collection" part?

Does anyone think a ban is going to keep him from going right back into it? He's an 81-year old billionaire. By the time they finish a new multi-year investigation, what'll they do to a 90-year old?

[Vinca]

9. So $70 million worth of stuff and he gets a slap on the hand. Unfuckingbelievable.

[Voltaire2]

12. No Gucci? No problem.

[gratuitous]

13. Tell us you have too much money without saying it explicitly

But it was awfully nice to drop all the criminal charges against Mr. Steinhardt.

[Midnight Writer]

14. Wow! They really threw the booklet at him!

I reckon he has learned his lesson.

[BeckyDem]

15. No criminal charges, must be nice.

Report to the United Nations on Racial Disparities in the U.S. Criminal Justice System
April 19, 2018


The United States criminal justice system is the largest in the world. At yearend 2015, over 6.7 million individuals1) were under some form of correctional control in the United States, including 2.2 million incarcerated in federal, state, or local prisons and jails.2) The U.S. is a world leader in its rate of incarceration, dwarfing the rate of nearly every other nation.3)

Such broad statistics mask the racial disparity that pervades the U.S. criminal justice system, and for African Americans in particular. African Americans are more likely than white Americans to be arrested; once arrested, they are more likely to be convicted; and once convicted, and they are more likely to experience lengthy prison sentences. African-American adults are 5.9 times as likely to be incarcerated than whites and Hispanics are 3.1 times as likely.4) As of 2001, one of every three black boys born in that year could expect to go to prison in his lifetime, as could one of every six Latinos—compared to one of every seventeen white boys.5) Racial and ethnic disparities among women are less substantial than among men but remain prevalent.6)
https://www.sentencingproject.org/publications/un-report-on-racial-disparities/

[traitorsgalore]

16. Then there's all his criminal cohorts

From the article: "the sprawling underworld of antiquities traffickers, crime bosses, money launderers, and tomb raiders he relied upon to expand his collection."

Sounds like the GOPlague political party with a slight adjustment: "propaganda traffickers, crime bosses, money launderers and pension raiders".

[crickets]

17. Did he at least turn anyone in for trafficking?

Oh, and even though he can't buy plundered artifacts anymore, is he allowed to accept 'gifts' from his 'friends' and such?

What a joke.