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Spanish billionaire jailed for smuggling
Picasso's artwork definitely represents valuable pieces...
The works of the famous artist often reach millions when sold, and are considered to be the most sought after pieces that the art community can own. Therefore, it is no wonder that countries like Spain have strict rules when it comes to exporting his paintings (and also those of his other compatriots), outside the country.
However, billionaire Jaime Botin was disobedient, so he recently tried to smuggle Picasso's historic portrait called the Head of Woman, which is part of his pre-Cubist Rose era and is worth about $ 29 million. Although he did not get permission to take the picture out of the country, the billionaire opted to do so anyway. The tycoon, who used to be the leader of the Spanish company Bankinter, was arrested and found guilty of smuggling "goods of cultural importance" and immediately had to hand over the celebrated artwork to the authorities.
Botin was sentenced to 18 months in prison and received a € 52.4 million fine. The eighty-three-year-old billionaire has ten days to appeal this decision, so he is unlikely to serve a prison sentence because of his age and the fact that this is his first offense. We will see if he has learned his lesson.
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