Madrid: Celebs Rumors

Madrid lies on the River Manzanares in the centre of both the country and the Community of Madrid region, of which it is also the capital. As the capital city of Spain, seat of government, residence of the Spanish monarch, Madrid is also the political, economic and cultural centre of the country. The current mayor is José Luis Martínez-Almeida from the People's Party.

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

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