King’s son-in-law facing €4-million bail payment in corruption case
Iñaki Urdangarin under investigation for channeling public money to private firms
Iñaki Urdangarin, the king’s son-in-law, will have to post bail of four million euros if the judge investigating him for misappropriation of public funds accepts the public prosecutor’s request.
For the last 18 months the husband of Princess Cristina, the youngest daughter of King Juan Carlos and Queen Sofía, has been under investigation for allegedly obtaining contracts without public tenders between 2004 and 2007 through the non-profit he presided, the Noos Institute.
The Popular Party governments of the Valencia region and Balearic Islands awarded Noos six million euros’ worth of contracts for sports and tourism events. Most of that money ended up in private companies owned by Urdangarin and his business associate, Diego Torres, who also faces the same bail.
The partners would set a price for the events and regional leaders paid without any public competition or previous audit of Noos’ rates, the investigation shows.
The scandal, which broke in late 2011, was a major blow to King Juan Carlos. Princess Cristina and Urdangarin have since been absent from royal events.