A former banker was sentenced to 18 months in prison and fined $58M for smuggling a Picasso painting out of Spain.
The case stemmed from the seizure of the 1906 oil painting from Botin’s yacht by customs officials on the French island of Corsica in 2015. They were working in conjunction with Spanish authorities.
The painting, which comes from the Cubist master's"pink period" and features a woman with long black hair, was seized when the boat's captain was unable to produce a certificate. Despite this, he took the painting to the Spanish port city of Valencia and ordered his yacht's captain to"hide it from authorities,” it added.
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