Current Events > Man with $70 million in stolen relics has to give them back

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Antifar
12/08/21 2:45:17 PM
#1:


https://www.nbcnews.com/news/us-news/billionaire-michael-steinhardt-surrenders-70-million-stolen-relics-man-rcna7873

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, the Manhattan district attorney announced Monday.

In 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 countries including Egypt, Greece, Israel, Syria and Turkey, prosecutors said.

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, District Attorney Cyrus Vance Jr. said in a news release.

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," he said.

Steinhardt said in a prepared statement issued by his attorneys that he was pleased that the District Attorneys years-long investigation has concluded without any charges, and that items wrongfully taken by others will be returned to their native countries.

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.

According to prosecutors, while complaining about a subpoena requesting documentation for an antiquity in May 2017, Steinhardt pointed to a small chest from Greece and said to an investigator, You see this piece? Theres no provenance for it. If I see a piece and I like it, then I buy it.
Many of the pieces Steinhardt acquired were removed from their countries of origin during times of war or civil unrest, prosecutors said.

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.
New York University named its Steinhardt School of Culture, Education and Human Development after Steinhardt in recognition of two $10 million donations.

Manhattan prosecutors began investigating Steinhardts collection of ancient artifacts in 2017 and raided his office and his Manhattan home in 2018, seizing several artworks that investigators said had been looted.

The items surrendered by Steinhardt include a stags head in the form of a ceremonial vessel for libations, dating from to 400 B.C., which prosecutors say appeared without provenance on the international market after rampant looting in Milas, Turkey. The stags head is valued at $3.5 million, the district attorney said.

There was also the chest for human remains from the Greek Island of Crete, called a larnax and dating from around 1300 B.C., which prosecutors said was purchased from a known antiquities trafficker.

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Health
12/08/21 2:46:40 PM
#2:


Antifar posted...
Billionaire

Obviously not Billionaire enough.
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AldousIsDead
12/08/21 2:47:07 PM
#3:


Fuckin looters. Fuckin looter getting away with it even worse.

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Middle hope
12/08/21 2:48:08 PM
#4:


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Questionmarktarius
12/08/21 2:48:38 PM
#5:


Wasn't this the plot to Wonder Woman 1984?
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theAteam
12/08/21 2:48:41 PM
#6:


Antifar posted...
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, District Attorney Cyrus Vance Jr. said in a news release.

Sounds like a hedge fund manager

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HylianFox
12/08/21 2:48:47 PM
#7:


Indiana Jones?

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Ysmir
12/08/21 2:48:55 PM
#8:


Now do the British Museum

But really, good, get fucked

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Doe
12/08/21 2:49:25 PM
#9:


Antifar posted...
will not face criminal charges
Lmao

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DeadBankerDream
12/08/21 2:49:59 PM
#10:


I'd prefer to let him keep them but he goes to jail forever.

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HylianFox
12/08/21 2:51:10 PM
#11:


DeadBankerDream posted...
I'd prefer to let him keep them but he goes to jail forever.

dude's 81

lifetime anything doesn't mean much...

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HylianFox
12/08/21 2:53:06 PM
#12:


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," he said.

hey, leave Lara Croft out of this

He came out of retirement in 2004 to head Wisdom Tree Investments.

he's involved with making video games, too?

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Trumble
12/08/21 2:58:57 PM
#13:


Yes, let's make a big deal out of behaviors that are offensive but don't actually do any real-world harm, while just shrugging off all the exploitation involved in reaching and maintaining billionaire status in the first place. Glad to see the world has its priorities straight.

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AceAttorneyist
12/08/21 2:59:37 PM
#14:


HylianFox posted...
dude's 81

lifetime anything doesn't mean much...

I mean it seems a lifetime ban on artifact acquisition means much less.

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DeadBankerDream
12/08/21 3:00:13 PM
#15:


Pretending that robbing nations of their cultural heritage is a victimless crime is one hell of a take.

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BignutzisBack
12/08/21 3:01:13 PM
#16:


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monkmith
12/08/21 3:03:51 PM
#17:


always glad to see the rich face no real consequence for their crimes. really puts things in perspective, where the poor can get sent to prison for stealing a candybar but the rich get reprimanded for stealing millions of dollars worth of artifacts.

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HylianFox
12/08/21 3:04:11 PM
#18:


BignutzisBack posted...
That man's name?

British museum

We can rag on private collectors and thieves all we want, but how many artifacts kept in museums actually belong there?

"Oh, but anyone can come in and gawk at them!" doesn't make it right

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Ysmir
12/08/21 3:04:48 PM
#19:


Obligatory:

https://youtu.be/x73PkUvArJY

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Questionmarktarius
12/08/21 3:07:14 PM
#20:


HylianFox posted...
We can rag on private collectors and thieves all we want, but how many artifacts kept in museums actually belong there?

"Oh, but anyone can come in and gawk at them!" doesn't make it right
What use is it serving inside a pyramid?
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Ysmir
12/08/21 3:08:22 PM
#21:


Questionmarktarius posted...
What use is it serving inside a pyramid?
Better use than in another country by whom it was stolen. Its a real paternalistic and shitty racist relic of empire that says other countries arent responsible enough to care for their own artifacts and heritage

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HylianFox
12/08/21 3:08:32 PM
#22:


Questionmarktarius posted...
What use is it serving inside a pyramid?

Why would it have a use?

The only thing it could possibly provide is historical context.

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Solar_Crimson
12/08/21 3:12:27 PM
#23:


Antifar posted...
will not face criminal charges
Of course he won't.

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Tyranthraxus
12/08/21 3:15:11 PM
#26:


Questionmarktarius posted...
Wasn't this the plot to Wonder Woman 1984?

That's how it started yes. The antiques market didn't ever come up again once the museum got them and like all of this is the first 10 minutes of the movie after the flashback.

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kingdrake2
12/08/21 3:15:49 PM
#27:


Middle hope posted...
Return the slab


what's Yer Offer?

a primordial ass kicking, a tote. no prison time FML.
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Questionmarktarius
12/08/21 3:16:18 PM
#28:


lifetime ban on acquiring antiquities
Steinhardt, who turns 81
o...kay.

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Tyranthraxus
12/08/21 3:16:52 PM
#29:


HylianFox posted...
We can rag on private collectors and thieves all we want, but how many artifacts kept in museums actually belong there?

"Oh, but anyone can come in and gawk at them!" doesn't make it right
Indiana Jones disliked that

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HylianFox
12/08/21 3:18:44 PM
#30:


lifetime ban on acquiring antiquities

But really though you have to love this 'punishment'

"Okay, we'll let you go as long as you promise not to steal anymore."
Like, how will this be enforced?

I suppose it means he can't go into antique markets or pawn shops anymore...
A cruel punishment for any old person.

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Questionmarktarius
12/08/21 3:20:23 PM
#31:


Tyranthraxus posted...
Indiana Jones disliked that
Unless the plan is some sort of supernaturally-powered world conquest, private collections of old junk don't really serve any purpose either.

Oooo - an old man has some dead Greek guy's urn. Okay, whatever. The hell is Greece going to do with it, other than stick it in a museum for everyone to gawk at?

HylianFox posted...
I suppose it means he can't go into antique markets or pawn shops anymore...
A cruel punishment for any old person.
It'll be somewhat amusing when an article emerges about some 80-somehing guy going to prison for buying an old clock at a garage sale.
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Garioshi
12/08/21 3:20:55 PM
#32:


Antifar posted...
Billionaire

Antifar posted...
will not face criminal charges
I am shocked

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Ysmir
12/08/21 3:21:24 PM
#33:


Questionmarktarius posted...
Unless the plan is some sort of supernaturally-powered world conquest, private collections of old junk don't really serve any purpose either.

Oooo - an old man has some dead Greek guy's urn. Okay, whatever. The hell is Greece going to do with it, other than stick it in a museum for everyone to gawk at?
I like how you conveniently ignored my last post about this

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HylianFox
12/08/21 3:21:53 PM
#34:


Questionmarktarius posted...
Unless the plan is some sort of supernaturally-powered world conquest, private collections of old junk don't really serve any purpose either.

Oooo - an old man has some dead Greek guy's urn. Okay, whatever. The hell is Greece going to do with it, other than stick it in a museum for everyone to gawk at?

I think we are starting to see the futility of material possessions
"You can't take it with you" you know

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Questionmarktarius
12/08/21 3:23:52 PM
#35:


HylianFox posted...
I think we are starting to see the futility of material possessions
This whole scenario is just hoarding that's pretending to be "high class" somehow.
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thronedfire2
12/08/21 3:24:30 PM
#36:


he should know that only countries are allowed to steal artifacts from other places, not individual people

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HylianFox
12/08/21 3:24:51 PM
#37:


Questionmarktarius posted...
This whole scenario is just hoarding that's pretending to be "high class" somehow.

But that's how it's been since the dawn of time

Whoever dies with the most toys, wins

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Questionmarktarius
12/08/21 3:25:28 PM
#38:


HylianFox posted...
Whoever dies with the most toys, wins
...and then someone will rob your grave.
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HylianFox
12/08/21 3:26:14 PM
#39:


Questionmarktarius posted...
...and then someone will rob your grave.

and then they die and people take their stuff that used to be your stuff

the cosmic ballet goes on

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Questionmarktarius
12/08/21 3:27:16 PM
#40:


thronedfire2 posted...
he should know that only countries are allowed to steal artifacts from other places, not individual people
In the end, the important thing here is that this guy went through the wrong middlemen.
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