Spanish billionaire found guilty of trying to smuggle Picasso painting aboard yacht

A Spanish banker has been sentenced to 18 months in jail and fined €51.7 million (approx. £44m) for attempting to smuggle a famous Picasso painting out of the country aboard a sailing yacht.

The ‘Head of a Young Woman’ painting, considered to be a national treasure, was confiscated from Jaime Botín’s yacht in Corsica, France, by police in 2015.

The 1906 piece - worth an estimated €26 million (£22m) - is one of the few painted by Picasso during his Gosol period, a precursor to Cubism.

Grandson of the Santander founder, Botín was the bank’s vice president until 2004.

Botín, 83, was made to forfeit the work. He may appeal against his sentence.

The banker, however, is unlikely to face jail time as first-time offenders for non-violent crimes in Spain are often spared prison if they receive sentences of less than two years.

Prosecutors have stated that Botín was planning to sell the Picasso at auction in London.

Botín, who bought the painting in 1977 in London, had previously been denied a permit.

He protested that he had the right to take it to Geneva for safekeeping, while his lawyers said that the state could not lay claim to the painting as it had only been in Spanish territory for six months since its purchase.

However, Botín was found guilty of ‘smuggling cultural goods’ for taking the painting ‘from national territory without a permit’.

The artwork is now property of the state and has been given to the Reina Sofia art museum in Madrid.

Sign up to our newsletter to get the best of Yachting Pages delivered direct to your inbox every month.

 

Source: BBC

June 17, 2022
Tried & Tested: Best Water Toys 2022
Tried & Tested: Best Water Toys 2022

In our 2022 Tried & Tested, yacht toy specialist EAMS and a group of captains and crew review a selection of the very best luxury water toys on the market. Find out which toy was crowned the winner...

By Hannah Rankine
March 12, 2021
Tried & Tested: Best Yacht Crew Polo Shirts
Tried & Tested: Best Yacht Crew Polo Shirts

In this Tried & Tested, clothing specialist Sea Design conducts a review into the best yacht crew polo shirts on the market. Which garment comes out on top when put to the test? Find out the number one option...

By Nathan Bees
January 21, 2021
Tried & Tested: Best Yacht Cleaning Products
Tried & Tested: Best Yacht Cleaning Products

In this Tried & Tested, yacht cleaning expert Marine 16 Ltd and cleaning expert Judith Shaw rate and review some of the best cleaning products available to buy. Find out which product was crowned the best following rigorous testing.

By Yachting Pages
ISWAN yacht crew support now available on WhatsApp

Yacht crew can now use WhatsApp to contact International Seafarers’ Welfare and Assistance Network (ISWAN)’s free, inter...

By Annabelle Fox
September 29, 2022
ISWAN yacht crew support now available on WhatsApp
ICON Yachts begins conversion on commercial vessel known as Project UFO

ICON Yachts has begun the conversion of Project UFO, turning a commercial vessel into a long-range luxury family explore...

By Annabelle Fox
September 29, 2022
ICON Yachts begins conversion on commercial vessel known as Project UFO

Finished reading? Now find your perfect supplier.

Search our industry-leading directory for over 20,000 superyacht suppliers, providers and marinas.

Search now