THE Balearic Islands Anti-corruption Prosecutor has declared that Iñaki Urdangarin and his associate created a network of companies to embezzle funds.
The King of Spain’s son-in-law and his associate Diego Torres are accused of creating a network of societies with which they diverted public and private funds received by the Noos Institute, the NGO they presided.
The Royal Household has expressed its “absolute respect” for the legal decisions and added that it has “nothing to say at this moment” as it is “an investigation which must follow its course”.
The judge will now examine all the information on the case to determine whether Iñaki Urdangarin will be charged in the case and summonsed to
s The Noos Strategic Sponsorhip Surveys Institute reportedly charged exorbitant prices for the services it was supposed to provide, such as charging more than €1 million for a forum regarding sports and tourism which lasted just three days.
Investigators have said they do not wish to accuse anyone unless there is strong evidence against them. However, amongst the documents under investigation, there is one which proves payments to the Duke of Palma’s brother.
Urdangarin left the Noos Institute in 2006, just months after the Socialist Party came forward to report how much had been spent on the 2005 forum.
By Jennifer Leighfield