Botin in the dock
Source: Tingey Injury Law Firm on Unsplash
Santander heir gets £44m fine for trying to smuggle Picasso painting out of Spain on his yacht
A billionaire member of the family that runs the Santander banking empire has been sentenced to 18 months in jail and fined €52.4 million (£45m) after being found guilty of attempting to smuggle a protected Picasso painting out of Spanish territory on his luxury yacht.The verdict by a Madrid court, which Jamie Botín’s lawyers have said he will appeal, comes almost five years after ‘Head of a Young Woman’ was seized on board the former banker’s schooner off the coast of Corsica.
Mr Botín, 83, now a retired banker and uncle of Santander’s executive chairwoman, Ana Botín, denied wishing to sell the Picasso painting abroad, but he broke the law in taking it outside Spanish jurisdiction after it was listed as a national heritage item.
In 2012 Spanish authorities began to monitor Mr Botín’s intentions regarding the early Picasso work valued at around €26 million, when Christie’s asked for an export licence in order to put the painting up for auction.
The Spanish government refused the licence and slapped a national protection order on the painting, banning its owner from taking it outside the country.
When the work was found aboard the ‘Adix’, Mr Botín’s magnificent UK-registered three-masted schooner, the billionaire denied planning to smuggle the painting abroad for sale, instead claiming that he was transporting it to safe storage in Geneva.
“Despite being fully aware of the prohibition, the accused took the painting on board his schooner, the ‘Adix’, moored in Valencia, with the aim of removing it from Spain,” reads the sentence, made public on Thursday.
The court ruled that ownership of the work now reverts to the Spanish state, adding that “anyone with any link to Spain will realise that the work is part of Spanish heritage”.
However, Mr Botín’s defence had argued that the painting was never on Spanish soil, except on very limited occasions such as that of his daughter’s wedding or another time when he brought it ashore to have it framed.
Mr Botín’s floating art collection on board the ‘Adix’ is believed to include paintings by JMW Turner and Camille Corot.
He is reported to have attempted to negotiate a deal with the Spanish government, offering to exhibit the work in Spain in exchange for a lighter sentence.
It is highly unlikely that Mr Botín will serve the jail sentence, even if it were to be upheld on appeal, as Spain’s courts tend to suspend terms of two years or less for first-time criminal offenders.
‘Head of a Young Woman’ is one of few existing paintings from the summer weeks of 1906 that Spanish-born artist Picasso spent in the village of Gósol, in the Catalan Pyrenees, along with his lover, Fernande Olivier.
Confusing Words:
What is the difference between heritage and inheritance?
Heritage - features belonging to the culture of a particular society, such as traditions, languages, or buildings, that were created in the past and still have historical importance.
- Edinburgh is a World Heritage site. (patrimonio)
- UNESCO wisely decided not to include bullfighting on the list of Intangible Cultural Heritage of Humanity.
- My love of whisky is part of my Scottish heritage. (herencia)
Inheritance - the money, property, or assets that someone receives from a person who has died.
- He received a small inheritance from his uncle. (herencia)
- She is an only child. She'll come into a substantial inheritance one day.
- I doubt you'll have to pay inheritance tax. (impuesto de sucesiones)
Comments
I know this case. He had been sentenced to 18 months in prison and a fine of €52,4 million. The most interesting is he has to pay €52,4 million to public funds. I suppose that he won´t be imprisonment. This people think that he lives in last century when he could do what he wanted, paying money to everyone and using his influences. He should understand that life has changed and now he is an important man like everyone. (not exactly, but you understand me).
Spanish authorities were going to monitor his activities because they knew his intentions, but he doesn´t matter it because he is full of pride and arrogance. Despite being fully aware that it was prohibited, he went on trying to smuggle this work. He didn´t get because Christie asked for its export licence and nobody wants to buy paintings of famous painters like Picasso.
Now this work reverts to the Spanish state because the court ruled that this painting is national heritage, that is, it´s ownership of everyone. I hope that it was in a museum in order to everybody can see it. Even he could see it, of course. With this business he has wasted €26 million and as well as €52,4 million. It´s a good business of a great banker.
See you.
I think this is another case of someone from the establishment who thinks that they are above the law.
And this is yet another case of someone being sentenced to under two years, which means no time served in prison.
I know this case. He had been sentenced to 18 months in prison and given a fine of / fined €52,4 million. The most interesting thing is he has to pay the €52,4 million to public funds. I suppose that he won´t be imprisoned / face imprisonment. (These people) He thinks that he lives in the last century when he could do whatever he wanted, paying money to everyone and using his influence. He should understand that life has changed and now he is as important as anyone else. (not exactly, but you understand me).
Spanish authorities were going to monitor his activities because they knew of his intentions, but he doesn´t care because he is full of pride and arrogance. Despite being fully aware that it was prohibited, he went on trying to smuggle this work out of the country. He wasn't able to because Christie asked for its export licence and nobody wants to buy paintings of famous painters like Picasso.
Now this work has been reverted to the Spanish state because the court ruled that this painting is part of our national heritage, that is, it´s the ownership of everyone. I hope that it will be put in a museum so that everybody can see it. Even he could see it, of course. Because of all this, he has wasted €26 million as well as €52,4 million. A very wise move by a great banker.