Jonathan Stempel

NEW YORK, (Reuters) – Michael Steinhardt, philanthropist and billionaire from hedge funds has turned over $70,000,000 of stolen antiquities. He also accepted a lifetime ban on antiquities acquisitions to help resolve a criminal investigation.

Vance claimed that his investigation, which began in February 2017, revealed “compelling proof” that the 180 antiquities came from 11 countries. Most likely, 171 were sold to traffickers after Steinhardt purchased them.

Vance released the following statement: “For many decades Michael Steinhardt showed a rapacious hunger for plundered artsifacts, without regard for the legality and legitimacy of the pieces that he bought or sold, or for the grave cultural damage he did across the globe.”

Steinhardt’s lawyer did not respond immediately to inquiries for comment. Vance’s Office stated that the accord is “the end of the grand jury investigation into Steinhardt.”

Steinhardt turns 81 this Tuesday. He built his fortune running Steinhardt Partners hedge fund, which he shut down in 1995 to concentrate on Jewish philanthropic matters. Forbes magazine estimates that he is worth $1.2 million.

Vance indicated that antiquities in question will be given back to the rightful owners, who are from Bulgaria, Egypt and Greece. This investigation was made possible by the law enforcement officers in those countries.

A 142 page statement of facts states that 138 antiquities were from Greece, Israel, or Italy. Steinhardt also admitted once to having purchased items from one seller “without provenance”.

One of the antiquities included a fourth century B.C. Steinhardt donated a wrought stag head valued at $3.5 million to the Metropolitan Museum of Art in 1993.

According to Steinhardt records, undated handwritten notes indicate that the head of the stag was “Found at Western Turkey.”

The statement of facts stated that “information from a seller identifying a find spot for an unprovenanced ancient antiquity often indicates it has been looted”.

Vance founded an antiquities trading bureau in December 2017. After 12 years in office, Vance leaves at the end the month.