June 23, 2024

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American billionaire who buys stolen art must return 180 pieces |  Globalism

American billionaire who buys stolen art must return 180 pieces | Globalism

US billionaire Michael Steinhardt, one of the world’s leading art collectors, has returned 180 objects with a combined value of US$70 million (about 400 million Brazilian reais), according to a statement on Monday. The Public Prosecution Office in Manhattan, in United State. He is prohibited from acquiring other antiques.

Steinhardt’s wealth is related to hedge funds, a type of fund that invests in operations that are considered riskier. Steinhardt, 81, is from New York and makes contributions to New York University and several charitable organizations associated with the area’s Jewish community.

There is an exhibit named after him at the Metropolitan Museum of Art and a space named after him in Brooklyn Botanical Gardens, a county in New York.

Old copy of the Torah belonging to the Metropolitan Museum of Art, donated by Michael Steinhardt – Photo: Reproduction/Metmuseum.org

Prosecutors and Steinhardt signed an agreement after four years of investigations.

It turns out that the pieces were stolen from 11 different countries, and that there are 12 old smuggling networks. The parts will be delivered to the following countries:

  • Bulgaria,
  • Egypt,
  • Greece,
  • Iraq,
  • Israel,
  • Italy,
  • Jordan,
  • Lebanon ,
  • Syrian Arab Republic,
  • Turkey.

And the art pieces appeared on the art market even without the necessary documents, according to the promoters.

See below a video about the auction of the Brazilian banker Edimar Ced Ferreira’s group auction.

Part of the millionaire art collection of banker Edemar Sid Ferreira is up for auction

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