Spanish Princess Cristina Forced To Sell Home After Indicted On Tax Fraud, Faces 2.7 Million Euro Fine
The Princess of Spain, the Infanta Cristina, has been forced to sell her home to cover the cost of bail.
Princess Cristina has been indicted on tax fraud while her husband, Iñaki Urdangarín, has been charged with money laundering and fraud, according to Sky News. A court in Palma de Mallorca upheld charges of tax fraud and money laundering against Cristina de Borbon and her husband.
The judge who is overseeing this case ruled that Princess Cristina must pay 2.7 million euros ($1.9 million) while her husband must pay 13.5 million euros ($9.7 million.) The allegation centers on a investigation claiming that Urdangarín stole 6 million euros ($4.8 million) in public money stemming from contracts awarded to charity.
The bail was set at 2.4 million euros ($1.7 million) and according to the Agence-France Presse, the mansion was worth at least 6.9 million euros, more than enough to pay for the bail. Princess Cristina and her husband recently were stripped of the titles of Duke and Duchess of Palma after a plea for her to be stripped of her reputation.
The 50-year-old princess is the sister of King Felipe VI and the first member of the royal family to stand trial since Spain's monarchy was restored in 1975. The scandal contributed to the abdication last year of Felipe's father Juan Carlos. Felipe marks the first anniversary of his coronation tomorrow.
Juan Carlos handed over the crown in the hope his son could restore the monarchy's popularity, which plunged during the recent economic crisis.
The couple, through their lawyers, have repeatedly claimed innocence. It is not known where the couple will be living after selling their mansion.
The trial is expected later this year. If convicted, Cristina could face up to 4 years in prison and her husband is facing 19 years in prison.
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