Prison sen­tence raised for Pi­casso smug­gling banker

Antelope Valley Press - - BUSINESS -

MADRID — A Span­ish court has raised the sen­tence against a for­mer bank pres­i­dent found guilty of try­ing to smug­gle a paint­ing by Pablo Pi­casso out of the coun­try.

The Madrid court an­nounced the de­ci­sion Tues­day to raise the sen­tence against fined ex-Bank­in­ter head Jaime Botín to three years in­stead of 18 months. The move came af­ter the prose­cu­tion de­tected an error in the orig­i­nal sen­tence handed down last month.

The court also raised the amount Botín was fined from $57. 9 mil­lion to $101 mil­lion.

The trial last year heard how a team of Span­ish po­lice ex­perts flew to the French is­land of Cor­sica in 2015 to re­trieve the paint­ing, Pi­casso’s mas­ter­piece “Head of a Young Woman.” The Span­ish gov­ern­ment had ruled in 2012 that the paint­ing, which is val­ued at some $26.5 mil­lion, could not be taken out of the coun­try.

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