Balearics prosecutor points finger at Iñaki Urdangarin

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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.

Companies in Barcelona allegedly belonging to this network have been searched as part of the Palma Arena corruption case. Diego Torres’ home was also searched.

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 Palma court. He and Torres are under investigation for document falsification, corruption, fraud and embezzlement, over two agreements signed in 2005 and 2006 between the Balearic government, led at the time by the Partido Popular’s Jaume Matas, and the Noos Institute, for €2.3 million.

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

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