An 83-year-old former Spanish banker was fined 410 Crore rupees for trying to sell a Picasso painting which was owned by him. The art work’s estimated value is around 205 crore rupees.
Spanish prosecutors accused Mr. Botin, who owned the artwork, of trying to sell the painting, depicting a woman with sharp features and long black hair, in defiance of a ban on exporting an artwork of cultural significance for Spain. It is believed, Picasso’s creation of the ‘head of a woman’ was painted around 1906.
Jaime Botin Ex-Chairman of Bankinter also had to serve 18 months in jail, which could be waved by the court as him being a first time offender and considering his advanced age. Mr.Botin conceded to the court that he wanted the painting out of Spain to keep it in safe custody in Switzerland.
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