Billionaire hedge fund manager Michael Steinhardt has agreed to turn over $70,000,000 worth of stolen antiquities and will be subject to an unprecedented lifetime ban on acquiring antiquities, Manhattan DA says.
NEW YORK — Billionaire hedge fund manager Michael Steinhardt has agreed to turn over $70 million worth of stolen antiquities and will be subject to an unprecedented lifetime ban on acquiring antiquities, theIn return, Steinhardt, a philanthropist who is chair of the Steinhardt Foundation for Jewish Life and co-founder of Birthright Israel, an organization that sends young Jews on free trips to Israel, will not face criminal charges for acquiring pieces that were illegally smuggled out of 11...
Attorneys Andrew J. Levander and Theodore V. Wells Jr. said that many of the dealers from whom Steinhardt bought the items “made specific representations as to the dealers’ lawful title to the items, and to their alleged provenance.” Steinhardt, who turns 81 on Tuesday, founded the hedge fund Steinhardt Partners in 1967 and closed it in 1995. He came out of retirement in 2004 to head Wisdom Tree Investments.
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