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gamesindustryblog.com March 29, 2017


Spain's Princess Cristina cleared of corruption charges

20 February 2017, 12:58 | Elizabeth Houston

Spanish princess found not guilty, husband sentenced to six years for embezzlement

Spain's Princess Cristina acquitted in tax fraud trial

As well as Cristina and Urdangarin, 15 others faced charges in the trial which investigated the dealings of the Noos Institute, a supposedly non-profit institution set up by Urdangarin and his partner, Diego Torres, who were accused of embezzling 6.2 million euros of public money.

The princess was on the board of Nóos, and she and her husband owned a real estate company, Aizoon, that prosecutors claimed was used to channel illegal revenue from Nóos to undeclared bank accounts.

But Princess Cristina's husband Inaki Urdangarin was jailed for six years and three months for siphoning off millions of euros between 2004 and 2006 from a foundation he headed in the island of Majorca.

Her husband Inaki Urdangarin had been charged with the more serious crimes of embezzlement, influence peddling, forgery and money laundering.

The decision, which can be appealed to the Supreme Court, came after a year-long trial that was seen as a test of whether Spain's rich and powerful were accountable to the law. The following year he stripped Cristina of her title of Duchess of Palma.

When King Felipe VI ascended the throne in 2014, he removed Cristina and her sister Elena from royal duties as part of a modernisation of the monarchy.

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There were no immediate comment from Felipe and Queen Letizia, who received news of the ruling during a visit to a museum in Madrid with the Hungarian president. Torres was given an eight-year prison term. "She believes his conviction is unjust, because she has always believed - and still believes - that he is innocent", Roca told reporters in Barcelona.

The Spanish royal family has been under scrutiny in recent years for its lavish lifestyle while much of the rest of the country was undergoing economic hardship.

Princess Cristina now lives in Switzerland.

The couple, reported to be in Geneva, was not present for the verdict. On Friday, reactions in the street were mixed, with a some people still expressing doubts over whether the law in Spain is the same for everyone.

"We have to respect the decision of the justice but I think they did it wrong", Mila said.



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