Spain judge sets USD 11.1M bail for king`s relative
A Spanish judge set bail at USD 11.1 mn for the king`s son-in-law and his former business partner before their possible trial in a corruption case.
Madrid: A Spanish judge today set bail at USD 11.1 million for the king`s son-in-law and his former business partner before their possible trial in a corruption case, which has been troubling the monarchy for years.
Inaki Urdangarin hasn`t been charged with a crime, but is a suspect in a case in which he and his partner allegedly funneled public funds to companies they controlled.
The Palma de Mallorca court on Wednesday gave them five days to pay. They are free to agree between themselves on how to divide the total amount.
Urdangarin, who is married to the king`s second daughter, Princess Cristina, could have properties embargoed if he fails to provide the bail but wouldn`t go to prison.
In a court document, investigating magistrate Judge Jose Castro said Urdangarin and former partner Diego Torres "ignored the rules of public contracting as long as they achieved their aim, which was no other than to divert public funds for their own benefit or that of others."
He said the two agreed to make as much as possible out of Urdangarin`s relationship with the Royal Palace in their dealings with public and private entities.
Urdangarin is a former professional and Olympic handball medalist and the deals he landed were for things such as organising seminars on using sports as a tourism lure.
Urdangarin comes from a wealthy Basque family but is not nobility; he became Duke of Palma because Cristina is Duchess of Palma.
The royal family decided last year to sideline him from all official royal activities, and last week removed him from the family website.