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Billionaire tycoon loses £78m for trying to smuggle Picasso painting out country
Billionaire ex-banker Jaime Botin's challenge to the fine was rejected by Supreme Court of Spain in the country's capital Madrid yesterday.The former president of Bankinter was sentenced in January 2020 by a Madrid criminal court for attempting to smuggle Picasso's 'The Head of a Young Woman' out of Spain on his private yacht.The 84-year-old tycoon was handed a three-year prison sentence and initially fined €52m (£44m), which was increased to €91.7m (£78m), and the court also ordered that the state keeps the painting.According to local media, Botin was hoping to sell the painting at the world-famous auction house Christie's in London.The banker, who is the uncle of Santander bank chairman Ana Botin, denied the allegations, saying he had
