Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Spain's Princess Cristina to stand trial on tax fraud charges

Published 12/22/2014, 05:14 AM
Updated 12/22/2014, 05:14 AM
© Reuters. Spain's Cristina de Borbon, sister of the newly-crowned King Felipe VI, leaves a courthouse after testifying in front of judge Jose Castro over tax fraud and money-laundering charges in Palma de Mallorca

MADRID (Reuters) - Cristina de Borbon, sister of Spain's King Felipe VI, will stand trial on charges of tax fraud, the first Spanish royal to face prosecution in court.

Her father Juan Carlos abdicated in June after a series of scandals including an investigation into the affairs of Princess Cristina's husband, former Olympic handball player Inaki Urdangarin, who is accused of embezzling public funds.

Princess Cristina, 49, and Urdangarin are among 17 people ordered to stand trial in the case involving his Noos Foundation charity, the High Court of the Balearic Islands said on Monday.

Cristina and her husband have both denied any wrongdoing.

Urdangarin has been charged with breach of legal duty, embezzling public funds, fraud, influence-peddling and money-laundering. The princess is accused of two tax crimes.

The couple have been ordered to deposit funds with the court to cover possible liabilities - 2.6 million euros ($3.2 million) in the case of Cristina, and nearly 15 million for Urdanganrin.

They now have 20 days to deposit the money, according to a written court ruling, or face having assets seized.

King Felipe is riding high in opinion polls and has tried to modernise the monarchy, including taking rights and duties away from his two sisters, who are no longer formally part of the royal family.

Cristina remains sixth in line to the throne.

(Reporting by Sarah White and Rodrigo de Miguel; Editing by Louise Ireland)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.