THE GUARDIAN: King Juan Carlos's daughter likely to be formally named as a suspect in multimillion-euro scandal ahead of possible indictment
As a financial scandal engulfs the royal family and politicians begin to call for his abdication, Spain's King Juan Carlos faces one of the worst weeks in his 37-year reign, with prosecutors set to ask a judge to formally name his daughter Princess Cristina as a suspect in a multimillion-euro fraud and money-laundering case.
The request, which would be a preliminary step to a possible indictment, is poised to be made next week and will be based on the testimony of Diego Torres, a former business school lecturer who became the partner of Cristina's husband, Iñaki Urdangarin.
Juan Carlos's nightmare week starts in Palma de Mallorca , when Urdangarin must appear before an investigating magistrate who has demanded that he and Torres post a joint bond of €8.1m (£7m).
The size of the bond points to the millions of euros that – via a foundation in which the princess served as a board member – the two men allegedly obtained from fraudulent deals with politicians keen to bathe in the reflected glory of royalty. Part of the money was allegedly then laundered through offshore accounts.
"If the princess sits in the dock, the blow to the monarchy's prestige will be huge," said Miguel Bernad, head of the controversial far-right Clean Hands movement that has sent a prosecutor to join the case and who will ask investigating magistrate José Castro to formally name the king's daughter as a suspect. » | Giles Tremlett in Madrid | Friday, February 22, 2013
