Sunday, July 3, 2022

The Epic Temple Heist That Looted a Nation’s History

Hi, it's Matt. When you visit the Met in New York or the British Museum in London, it's tempting to wonder how all the ancient sculptures, f

Hi, it's Matt. When you visit the Met in New York or the British Museum in London, it's tempting to wonder how all the ancient sculptures, friezes, and busts got there. Did someone get permission to remove each one from its original location for the benefit of a faraway institution? Or were they hacked away in the dead of night and smuggled out of their home countries and into the international art market? In recent years, big museums and private collectors have been forced to admit that it was often the latter—and that many of the treasures they display are, in any conventional sense of the term, stolen property.

As I write in the new Bloomberg Businessweek Heist Issue, some of the most outrageous thefts occurred in poor, war-torn Cambodia, where temples from the ancient Khmer Empire—the civilization that produced Angkor Wat—were being systematically emptied of statues into the late 1990s. A large share of those pieces ended up in the hands of Douglas Latchford, a British bon vivant who established himself as the foremost dealer of Khmer art, supplying billionaire collectors and elite museums alike. Operating from an artifact-stuffed condo in the heart of Bangkok, Latchford was the central node in what heritage activists believe was one of the most significant art crimes in history.

Latchford died in 2020, before he could face trial in the US for fraud and conspiracy. But justice, of a kind, may still be achieved. An international team of lawyers, archaeologists, and private eyes is trying to track down the treasures he sold and return them to Cambodia. It's a huge job. They estimate there are more than 2,000 likely looted objects across the globe, and locating them all could take decades. But they're making real progress, thanks in part to an unexpected break: They've convinced former looters to testify about what they stole. Click here to read the story or here to listen. —Matthew Campbell

Bloomberg Businessweek, July 4, 2022. Photo illustration by Chris Burnett and 731. Photos by Derry Moore.

More From Bloomberg Businessweek's Heist Issue

Did Razzlekhan and Dutch Pull Off History's Biggest Crypto Heist?

The novelty rapper and her startup-guy husband are now facing trial, but some of the proceeds from the $8 billion Bitfinex hack still haven't been recovered. 
How Generations of Black Americans Lost Their Land to Tax Liens

Sales of repossessed assets have stripped thousands of families of their property—along with the potential to increase wealth.

The Lottery Lawyer Won Their Trust, Then Lost Their Mega Millions
 

Jay Kurland built a practice giving legal and financial advice to jackpot winners. He's now accused of fraud.

The Open House Hunters of LA's Rich and Famous

In a stunning crime spree, a pair allegedly stole millions of dollars in watches, bags, and other luxury items from celebrities, the fabulously wealthy, and even friends. Their trial begins on Aug. 25.
How ADT Went to Work for Google

The century-old security giant best known for its octagonal blue logo is banking on a smart-home partnership with a company that's also one of its biggest threats.

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