Factbox: Allegations against former Spanish King Juan Carlos

MADRID (Reuters) - Spain's former King Juan Carlos was dogged by reports he was linked to corrupt dealings, including international transfers of tens of millions of dollars, before he left the country to try to relieve the pressure on the reign of his son King Felipe. Juan Carlos is not formally under investigation and has repeatedly declined to comment on the allegations. He has been staying in the United Arab Emirates since Aug 3.

Reuters August 18, 2020 00:11:02 IST
Factbox: Allegations against former Spanish King Juan Carlos

Factbox Allegations against former Spanish King Juan Carlos

MADRID (Reuters) - Spain's former King Juan Carlos was dogged by reports he was linked to corrupt dealings, including international transfers of tens of millions of dollars, before he left the country to try to relieve the pressure on the reign of his son King Felipe.

Juan Carlos is not formally under investigation and has repeatedly declined to comment on the allegations. He has been staying in the United Arab Emirates since Aug 3.

$100 MILLION FROM SAUDI?

The newspaper La Tribune de Geneve reported that Juan Carlos received $100 million from the late Saudi King Abdullah, and sent 65 million euros of it to Danish-born businesswoman Corinna zu Sayn-Wittgenstein-Sayn, with whom he had a close relationship.

News site El Confidencial has published documents purporting to show the Saudi money in an account with Swiss bank Mirabaud, held by a Panamanian company called Lucum, of which Juan Carlos was the beneficial owner and his successor, King Felipe, a named director.

The site published receipts showing regular cash withdrawals of hundreds of thousands of euros, signed by Juan Carlos.

A Swiss prosecutor's office is investigating a bank transfer to zu Sayn-Wittgenstein-Sayn. She says the money was a gift. Her lawyer has said she was "dragged into Swiss proceedings in relation to events in which she was not involved".

SPANISH INVESTIGATION

In June, Spain's Supreme Court opened an investigation into whether any potentially illegal activity involving Juan Carlos and relating to a high-speed desert train project in Saudi Arabia took place after Juan Carlos abdicated in 2014.

The former king is immune to prosecution over events that happened during his reign.

OFFSHORE FUNDS

King Felipe announced on March 15 this year that he was renouncing his inheritance from his father. At the time, he said he had learned last year that he was the beneficiary of an offshore fund, Lucum, and had told his father he would not accept any benefit from it.

Felipe is also named on documents reviewed by Reuters as a potential beneficiary of a second fund, Zagatka. He has said he was not aware of that fund, but if he turned out to be a beneficiary, he would renounce that too.

Juan Carlos has said he never gave Felipe any information about the two funds.

(Reporting by Madrid bureau; Editing by Andrei Khalip and Peter Graff)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

France, Germany to agree to NATO role against Islamic State - sources
| Reuters
World

France, Germany to agree to NATO role against Islamic State - sources | Reuters

By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States

China's Xi says navy should become world class
| Reuters
World

China's Xi says navy should become world class | Reuters

BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.