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Banker fined $84 million for smuggling Picasso painting out of Spain
An 83-year-old former Spanish bank chairman has been fined €52 million ($84 million) after being convicted of smuggling a Pablo Picasso painting abroad after it was designated a national treasure.
Jaime Botin, the ex-chairman of Bankinter, was also given an 18-month prison term on Thursday but he is unlikely to serve it due to his advanced age and his status as a first-time offender.
- The Sydney Morning Herald
The case stemmed from the seizure of Spanish master Picasso’s Head of a Young Woman, a 1906 painting valued at €26 million, from Botin’s yacht during a search by …