Tags: princess cristina | bail | reduced | refused

Princess Cristina's Bail to Stay at $3M After Judge Refuses to Reduce

Image: Princess Cristina's Bail to Stay at $3M After Judge Refuses to Reduce
n this 2011 file photo, Princess Cristina of Spain (R) and husband Inaki Urdangarin attend traditional summer dinner at the Almudaina Palace in Palma de Mallorca, Spain. (Carlos Alvarez/Getty Images)

By    |   Tuesday, 02 Jun 2015 02:42 PM

Princess Cristina’s bail will stay at 2.7 million euros ($3 million) after a judge in charge of the royal’s indictment publicly refused to reduce the amount Tuesday.

After a four-year investigation, the Spanish princess has pleaded not guilty to charges of tax fraud along with her husband Inaki Urdangarin, who also faces accusations of money laundering, according to The Associated Press.

The 49-year-old sister of King Felipe had her lawyers and a prosecutor petition Investigative Magistrate Jose Castro to reduce the bail amount to 450,000 euros, the amount the princess would likely have to pay if convicted.

According to the Inquisitr, prosecutor Pedro Horrach claims the court does not have sufficient evidence to accuse the princess of the crime.

Though her husband’s assets have been frozen, the princess submitted to the court in Palma de Mallorca a list of assets covering the bail amount, Breaking News reported. She cannot sell this property while awaiting trial.

Urdangarin allegedly funneled $6.41 million in public funds with his former business partner Diego Torres into companies in which they have influence, the Inquisitr reported. Their bail amounts are set at $6.5 million.

Prosecutors claim Princess Cristina had knowledge of her husband using her name and status in his illegal activity. The money was channeled through the non-profit Noos Institute of which Infanta Cristina is a board member, possibly benefitting her. Additionally, another channel sent money into Aizoon, which the royal and her husband owned.

The daughter of the former King Juan Carlos is the first of the Spanish royal family to be sent to court since the monarchy was restored in 1975, Inquisitr noted.

The princess’ trial is expected to begin late this year. She faces up to four years in prison if convicted.

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Princess Cristina’s bail will stay at 2.7 million euros ($3 million) after a judge in charge of the royal’s indictment publicly refused to reduce the amount Tuesday.
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2015-42-02
Tuesday, 02 Jun 2015 02:42 PM
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