The hedge fund pioneer is barred for life from buying more antiquities. He turned over 180 stolen objects that had decorated his homes and office.
The prosecutor’s office struck an agreement with Mr. Steinhardt after a four-year multinational investigation that determined that the seized pieces had been looted and smuggled from 11 countries, trafficked by 12 illicit networks and appeared on the international art market without lawful paperwork, the office 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, adding: “This agreement establishes that Steinhardt will be subject to an unprecedented lifetime ban on acquiring antiquities.”
Mr. Steinhardt, a Brooklyn native who turns 81 on Tuesday, is a major contributor to New York University and to numerous Jewish philanthropies. There is a Steinhardt conservatory at the Brooklyn Botanic Garden and a Steinhardt Gallery at the Metropolitan Museum of Art.
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