A billionaire hedge fund manager who amassed a lavish collection of ancient artefacts has agreed to surrender $70m (£53m) in stolen antiquities and been handed a lifetime ban from acquiring such treasures.
In return, Michael Steinhardt, 81, will not face criminal charges for illegally acquiring art that was smuggled from 11 countries, including Egypt, Greece, Israel, Syria and Turkey, Manhattan's district attorney announced.
"For decades, Michael Steinhardt displayed a rapacious appetite for plundered artefacts without concern for the legality of his actions," Cyrus Vance Jr said in a news release.