Iíll return looted antiquities, agrees tycoon

BILLIONAIRE hedge fund manager Michael Steinhardt has agreed to turn over $70 million (£53 million) worth of stolen antiquities.

He will also be subject to an unprecedented lifetime ban on acquiring antiquities.

In return, Steinhardt, a philanthropist who is chairman of the Steinhardt Foundation for Jewish Life and co-founder of Birthright Israel ó an organisation that sends young Jews on free trips to Israel ó will not face criminal charges for acquiring pieces that were illegally smuggled out of 11 countries including Israel, Egypt, Greece, Syria and Turkey, prosecutors said in New York.

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