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Hedge fund founder Steinhart returns looted relics | National News

New York (AP) —Billionaire Hedge Fund Manager Michael Steinhardt agrees to hand over $ 70 million worth of stolen relics and is subject to an unprecedented lifetime ban on the acquisition of relics, Manhattan District Attorney said Monday Announced in.

In return, Steinhardt, chairman of the Steinhardt Foundation for Jewish Life and philanthropist co-founder of Birthright Israel, an organization that sends young Jews on free trips to Israel, has produced illegally smuggled works. You will not be criminally liable for obtaining it. Of the 11 countries, including Egypt, Greece, Israel, Syria and Turkey, the prosecutor said.

“For decades, Michael Steinhart was plundered without worrying about the legality of his actions, the legality of the works he bought or sold, or the serious cultural damage he caused to the world. He showed a greedy desire for artifacts, “said district attorney Cyrus Vance Jr. Said in a news release. “A” new “for exhibition and sale, as reflected in the vast underworld of ancient traffickers, criminal bosses, money launderers, and tomb intruders he relied on to expand his collection. Additional pursuits did not know the geographical or moral boundaries. “

A message asking for comment from Steinhart was left at the Steinhart Foundation for Jewish Life.

Steinhardt, 81 years old on Tuesday, founded the hedge fund Steinhardt Partners in 1967 and closed in 1995. He retired in 2004 and headed WisdomTree Investments.

Hedge fund founder Steinhart returns looted relics | National News

Source link Hedge fund founder Steinhart returns looted relics | National News

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