Let them eat cake
Spain's Royal Troubles
In another blow to Spain’s royal family, Princess Cristina and her husband are accused of tax fraud and embezzling 6 million euros in public funds. While the Princess is seen as more of an accomplice, this could be devastating to the image of the royal family, which has already plummeted since the economic crisis began.
Investigating authorities allege that Urdangarin and his former business partner Diego Torres funneled about 5 million euros ($6.4 million) in public funds to companies they controlled. The two ran a nonprofit organization called the Noos Institute, through which the funds were channeled and of which the princess was a board member.
In a court document Wednesday, investigating magistrate Judge Jose Castro said the princess was a board member on two of her husband's companies. The magistrate added there was evidence the princess was aware that her husband had used her name and status in his dealings, from which both had benefited. Castro said such evidence could lead the princess to be classified as an accomplice.
This probe comes a year after King Juan Carlos, once extremely popular, went on an expensive elephant hunting excursion in Botswana. Even though the King, himself, did not apparently pay for the safari, he left a country with Great Depression-level unemployment, and did not stand with them in solidarity. Many have accused the Spanish royals of living a life of extravagance using public funds, even as much of Spain is suffering.