Spanish royal son-in-law diverted $7.5 mn: Prosecutors
Spanish King Juan Carlos's son-in-law and one of his associates pocketed 5.8 million euros (around $7.5 million) while running a non-profit foundation, the office of the anti-corruption prosecutor said.
Iñaki Urdangarin, the 43-year-old royal son-in-law who also holds the title of Duke of Palma, and his associate Diego Torres were named after a probe into the organisation Instituto Noos.
The Instituto Noos reportedly paid companies owned and managed by Urdangarin and Torres more than 5.81 million euros between 2004 and 2007, the prosecutor's office said.
The amounts were received by the institute from public agencies in the form of contracts from the Balearic Islands and Valencia regional governments.
Once the contracts were obtained, the institute entrusted the work to companies owned by Urdangarin and Torres.
The prosecutors said the profits were very significant since the institute grossly overcharged the regional administrations for services rendered.
Urdangarin wed Princess Cristina, the youngest daughter of Juan Carlos and Queen Sofia, in October 1997. The couple and their four children now live in Washington, where Urdangarin is an executive with Spanish telecom giant Telefonica.
The royal household announced in December that Urdangarin would no longer take part in official activities.
The duke was "absolutely innocent", his attorney said.
