Author Topic: Spanish princess on trial in fraud case  (Read 100 times)

Description: Princess Cristina was a board member at the foundation and, with Mr Urdangarin, co-owned a real estate company called Aizoon, which prosecutors say was used to launder embezzled funds.The case

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Spanish princess on trial in fraud case
« on: January 11, 2016, 07:05:34 PM »

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Spanish princess on trial in fraud case

Spain's Princess Cristina on trial in fraud case



   
   

       
  •    
    11 January 2016


  •    
  • From the section Europe



   

                                                                                                   

               
                Princess Cristina de Borbon and her husband Inaki Urdangarin arrive at the courtroom at the Balearic School of Public Administration (11 Jan)Image copyright
                Getty Images
               
           

           
           
Image caption
               
                    The princess arrived with her husband at a makeshift courtroom in Palma, Majorca
               

           

Spain's Princess Cristina has become the first member of the country's royal family to be put on trial.

She is charged with being an accomplice in an alleged embezzlement scam involving her husband and 16 other defendants, who all deny the charges.

Princess Cristina, 50, faces eight years in jail if found guilty by a three-member panel of judges.

The trial in Palma, Majorca is seen as an embarrassment for the royal family.

Princess Cristina arrived at the court in Palma on Monday with her husband, Inaki Urdangarin, who is accused of embezzlement and money laundering.

Unprecedented trial for Spanish princess

Why Princess Cristina is in court

His supposedly non-profit Noos Institute sports foundation was allegedly used as a vehicle to win falsely inflated contracts from regional government bodies, before channelling the money to personal accounts via tax havens.

                                                                                                   

The amount of public funds paid to the Noos Institute has been calculated at €5.6m (£4.2m; $6.1m).


               
               
               

               
               
                Image copyright
                AFP
               
           

           
           
Image caption
               
                    The princess married Inaki Urdangarin in 1997 - they lost their titles of duke and duchess of Palma last year
               

           

Princess Cristina was a board member at the foundation and, with Mr Urdangarin, co-owned a real estate company called Aizoon, which prosecutors say was used to launder embezzled funds.

The case was launched in 2010 by a judge investigating corruption among Balearic Islands officials. It has become highly symbolic of perceived corruption among Spain's elites, including the royal family.

Last year, King Felipe stripped his sister of the title of Duchess of Palma, but she remains sixth in line to the throne.



               
               
               

               
               
                Image copyright
                Getty Images
               
           

           
           
Image caption
               
                    The princess has so far refused to renounce her right to succession and remains sixth in line to the Spanish throne
               

           

The charges

  • Princess Cristina is charged with being an accomplice to tax fraud, relating to the financial years 2007 and 2008. The private prosecution accusing her wants a jail sentence of eight years

  • Inaki Urdangarin is accused of using the Noos Institute and associated companies to embezzle public funds amounting to €5.6m and is also accused of fraud, influence peddling and money laundering, among other offences. The public prosecutor wants a jail sentence of 19.5 years for the king's brother-in-law

  • There are 16 other defendants in the case, including Diego Torres, Mr Urdangarin's former partner at Noos, and Jaume Matas, a former government minister and former chief of the Balearic Islands regional government

  • Mr Torres could face more than 16 years in jail on similar charges to Mr Urdangarin, while Mr Matas could face 11 years, having already served a nine-month term for corruption



Source: Spanish princess on trial in fraud case






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