Really Old, Really Rich and Really Wrong
Sunday, December 19th, 2021By Bob Gaydos
This is a story about how the rich often get special treatment from our justice system. There is also a footnote to the story which raises at least some hope that the rich-get-off-easy scenario may soon be amended.
First, a favor for the rich guy.
Michael Steinhardt, a billionaire who is used to having pretty much anything he wants, recently got an early birthday present from Manhattan DA Cy Vance Jr.: A stay-out-of-jail card.
The gift came with a message, a stern warning if you will: Tsk, tsk, Michael. You know better than that. Now round up all those weird old things cluttering up all your homes and give them back to their rightful owners. And don’t ever do that again. (Signed), Cy
Steinhardt’s lawyer said his client, a hedge fund founder who has been accused of sexual harassment in the past, was “pleased” with Vance’s gift. Most rich people Vance lets off the hook usually are.
As he prepares to retire, Vance provided one more piece of evidence confirming that his scales of justice are weighted heavily in favor of the rich.
Steinhardt, described in news accounts as a philanthropist and collector of antiquities, was ordered to return some $70 million worth of those antiquities to their rightful owners. People from whom they were stolen, in other words. The people of 11 nations, actually.
He was also told to refrain from this practice, or else. The “or else” part was not spelled out. Two days after Vance’s announcement, Steinhardt celebrated his 81st birthday, presumably suitably chastised.
This “punishment” for aggressively seeking, purchasing and possessing 180 pieces of stolen property was the culmination of a four-year investigation by the Antiquities Trafficking Unit of the Manhattan prosecutor’s office. It involved investigators and officials in the following countries: Bulgaria, Egypt, Greece, Iraq, Israel, Italy, Jordan, Lebanon, Libya, Syria, and Turkey, a veritable Who’s Who of places one might shop for antiquities. And Steinhardt was a frequent shopper. He also apparently knew where to find the good stuff.
In a prepared statement, Vance 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. His pursuit of ‘new’ additions to showcase and sell knew no geographic or moral boundaries, as reflected in the sprawling underworld of antiquities traffickers, crime bosses, money launderers, and tomb raiders he relied upon to expand his collection.”
Despite all those traffickers, crime bosses, money launderers and tomb raiders with whom Steinhardt did business, Vance said he decided not to prosecute Steinhardt in order to return the stolen subject to their rightful owners as quickly as possible. Suddenly, time is of importance with these extremely old treasures.
Vance also said he wanted to protect the identity of witnesses around the globe. Future tipsters. So thoughtful.
In comparison, studies of his office’s prosecution rates show that low-level offenders (people in possession of less-pricey stolen property, for example) from Manhattan represent a significantly higher population of Rikers Island in New York City, than similar miscreants from Brooklyn, which has a significantly higher population of all types. Hey, if you do the crime in Manhattan, Vance says you gotta pay the time.
Then there are Vance’s past decisions not to prosecute movie producer Harvey Wasserman on sexual harassment charges, or to charge Donald or Ivanka Trump on the usual fraud stuff. People who care about ethics in government have also criticized Vance”s practice of accepting campaign donations from lawyers and law firms whose clients had dealings with his office. The connection between money and influence is, well, elementary.
Now for the hopeful news in this story, the footnote.
This is Vance’s swan song in Manhattan. He’s retiring. That means the new, eager DA will get to work with New York Attorney General Letitia James on putting Trump and his cohorts behind bars on a variety of tax fraud charges.
James decided not to run for governor and to focus on the continuing Trump prosecution she has been working on with the Manhattan DAs office. She’s already forced Andrew Cuomo to resign as governor because of sexual harassment allegations. Nailing Trump would make her a political rock star as well as establishing a different, more balanced, atmosphere in the Manhattan DA’s office.
Maybe Vance finally decided this was one political favor to a rich friend he couldn’t deliver. And maybe all those museums that slapped Steinhart’s name on galleries because of his “generosity“ need to take it down. At least his ego will pay a price.
rjgaydos@gmail.com
Bob Gaydos is writer-in-residence at zestoforange.com.