US Collector and Billionaire Surrenders Millions Worth of Stolen Art
All 180 looted art pieces in Michael Steinhardt's collection will be repatriated.
The post US Collector and Billionaire Surrenders Millions Worth of Stolen Art appeared first on LUXUO.
From top to bottom: a fresco, larnax, death mask, and Stag Head Rhyton. Image: Manhattan District Attorney’s Office
Michael Steinhardt, a billionaire investor and antiquities collector, agreed on Tuesday (December 7) to surrender 180 stolen relics worth a combined US$70 million. Steinhardt, who amassed one of the world?s largest collections of ancient art, also agreed to a lifetime ban on acquiring antiquities.
Steinhardt had been under investigation by the Manhattan District Attorney?s Antiquities Trafficking Unit, according to a press release. The team looked into over 1,000 items acquired by him for more than 30 years and found him to be in possession of stolen artefacts that had been smuggled out of 11 countries by 12 different criminal networks.
The Ercolano Fresco of the infant Hercules slaying a serpent. Image: Manhattan District Attorney’s Office
?Steinhardt viewed these precious artifacts as simple commodities ? things to collect and own,? Homeland Security Investigations New York Acting Special Agent in Charge Ricky J. Patel said in a statement. ?He failed to respect that these treasures represent the heritage of cultures around the world from which these items were looted, often during times of strife and unrest.?
The investigation into Ste...
The post US Collector and Billionaire Surrenders Millions Worth of Stolen Art appeared first on LUXUO.
From top to bottom: a fresco, larnax, death mask, and Stag Head Rhyton. Image: Manhattan District Attorney’s Office
Michael Steinhardt, a billionaire investor and antiquities collector, agreed on Tuesday (December 7) to surrender 180 stolen relics worth a combined US$70 million. Steinhardt, who amassed one of the world?s largest collections of ancient art, also agreed to a lifetime ban on acquiring antiquities.
Steinhardt had been under investigation by the Manhattan District Attorney?s Antiquities Trafficking Unit, according to a press release. The team looked into over 1,000 items acquired by him for more than 30 years and found him to be in possession of stolen artefacts that had been smuggled out of 11 countries by 12 different criminal networks.
The Ercolano Fresco of the infant Hercules slaying a serpent. Image: Manhattan District Attorney’s Office
?Steinhardt viewed these precious artifacts as simple commodities ? things to collect and own,? Homeland Security Investigations New York Acting Special Agent in Charge Ricky J. Patel said in a statement. ?He failed to respect that these treasures represent the heritage of cultures around the world from which these items were looted, often during times of strife and unrest.?
The investigation into Ste...
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