Inaki's former business investigated in a corruption case

[Winnie]

Originally Posted by donnaK

Inaki was so hungry for money because he was a poor retired handball star without other professional skills, Cristina didn't have much money either, they had always wanted a big family, many kids.

Ah, you know what they say about the LOVE of money. Now this "root" might even destroy a lovely country's faith in their monarchy. Just am awful shame, especially if the proper people are not found guilty and chastised. The people at the top and in the know must be punished very severely for this theft and public trust.

[An Ard Ri]

Originally Posted by Nice Nofret

The royal family of Spain is quit poor - so it is not possible for them to provide for all relatives lavishly like the British family can do it. On the other hand, they are surrounded by rich aristocrats and other rich people ...

That doesn't make embezzlement right, but it might offer an explanation.

They may not be as well off as other Royal Houses but they are by no means 'poor'.

[LadyGabrielle]

Let us all feel compassion because the SRF are so poor. Please, they are ordinary people who without a title would be subject to all the laws that everyone else is. Just because one is poorer than another is no excuse for sympathy and does not give them the right to break the laws.

[cepe]

I'm only just picking up this thread. Can anyone tell me

1. HAs Inaki been found guilty in a court of law?
2. Is it confirmed that his wife is implicated?
3. Is there anywhere which has a summary of events, in English?

Many thanks

[donnaK]

Nobody here had said that Inaki should not be punished if he is found guilty. Just because Inaki had done something illegal (at least unethical), every member of the SRF should be investigated even if there was not a single evidence showing that some members had involved in any shady business, or even business ? I'm sure some people have their eyes wide open following every step of the SRF, but criminal investigation, you need some evidence first, you can't say father is guilty, son must be hiding something, vice versa, here, Inaki is only an in-law.

When Prince Bernhard of the Netherlands involved in a business scandal, every member of the Dutch RF got investigated ? Some common sense please.

[Artemisia]

Originally Posted by cepe

I'm only just picking up this thread. Can anyone tell me

1. HAs Inaki been found guilty in a court of law?
2. Is it confirmed that his wife is implicated?
3. Is there anywhere which has a summary of events, in English?

Many thanks

1. No, he hasn't. In fact, he hasn't even been charged yet. His second testimony in a court will take place at the end of February. However, the evidence against him is so strong and undeniable that at this point, few doubt he is guilty.

2. No, his wife hasn't been implicated. However, Cristina was a member of the Noos board as well as co-owner of one of the other companies implicated in the scandal. Her personal secretary worked as the treasurer of the Noos. And finally, she should have realised the money for their lavish lifestyle must come from somewhere. So far, Cristina hasn't been officially questioned, although it is mainly because of who she is: the King still retains some of the respect he one enjoyed.

3. I have written an article in my blog where you can read about the case, the role of and implications for the Spanish Royal Family, and other details. There is also a handy timeline of events at the end.


Inaki Urdangarin Corruption Case: Will the Borbons survive it?

As the Duke of Palma de Mallorca took part in the National Day on 12 October 2011, dashing and charming as always, few could have guessed that was his very last appearance in an official capacity as a member of the Spanish Royal Family, and that soon Inaki’s name will be on everyone’s lips for all the wrong reasons.

Less than a month later, on 7 November 2011, the Anti-Corruption Prosecutor recorded Noos headquarters in Barcelona in connection with the ongoing “Palma Arena” corruption case. Specifically, they were looking into the dealings of The Noos Institute for the period of 2004-2006 – the time Urdangarin was its Executive President.

[Nice Nofret]

Originally Posted by cepe

I'm only just picking up this thread. Can anyone tell me

1. HAs Inaki been found guilty in a court of law?
2. Is it confirmed that his wife is implicated?
3. Is there anywhere which has a summary of events, in English?

Many thanks

1. No, there are investigations going on and accusations were brought to court lately
2. No, of course not - there are not investigating her (at the moment), but she as well was on the board of directors.
3. Not that I know of


To my former posts: I should have written 'relatively poor'

[susan alicia]

But surely the SRF and Spain respect the law and the true meaning of democracy more.
I think there have been Royals in court as witnesses or otherwise but can not remember which.

Originally Posted by Artemisia

1. No, he hasn't. In fact, he hasn't even been charged yet. His second testimony in a court will take place at the end of February. However, the evidence against him is so strong and undeniable that at this point, few doubt he is guilty.

2. No, his wife hasn't been implicated. However, Cristina was a member of the Noos board as well as co-owner of one of the other companies implicated in the scandal. Her personal secretary worked as the treasurer of the Noos. And finally, she should have realised the money for their lavish lifestyle must come from somewhere.

3. I have written an article in my blog where you can read about the case, the role of and implications for the Spanish Royal Family, and other details. There is also a handy timeline of events at the end.


Inaki Urdangarin Corruption Case

[GracieGiraffe]

Originally Posted by Artemisia

1. No, he hasn't. In fact, he hasn't even been charged yet. His second testimony in a court will take place at the end of February. However, the evidence against him is so strong and undeniable that at this point, few doubt he is guilty.

2. No, his wife hasn't been implicated. However, Cristina was a member of the Noos board as well as co-owner of one of the other companies implicated in the scandal. Her personal secretary worked as the treasurer of the Noos. And finally, she should have realised the money for their lavish lifestyle must come from somewhere. So far, Cristina hasn't been officially questioned, although it is mainly because of who she is: the King still retains some of the respect he one enjoyed.

3. I have written an article in my blog where you can read about the case, the role of and implications for the Spanish Royal Family, and other details. There is also a handy timeline of events at the end.


Inaki Urdangarin Corruption Case: Will the Borbons survive it?

FANTASTIC summary, Artemisia!

[cepe]

Thank you soooo much Artemesia and Nice Nofret. I think that when it comes to Threads like this, there should be a page which sets out the scenario and then updates it for latecomers like me.

thank you again.

[GracieGiraffe]

Originally Posted by cepe

Thank you soooo much Artemesia and Nice Nofret. I think that when it comes to Threads like this, there should be a page which sets out the scenario and then updates it for latecomers like me.

thank you again.

I have to say there's no other royal story out there that's so intriguing.

[Artemisia]

You are most welcome, GracieGiraffe and cepe!
I agree, this ongoing saga is one of the most interesting current stories in any of the Royal Houses. I just hope it won't get worse - for Inaki and for SRF.

[An Ard Ri]

Originally Posted by Artemisia

You are most welcome, GracieGiraffe and cepe!
I agree, this ongoing saga is one of the most interesting current stories in any of the Royal Houses. I just hope it won't get worse - for Inaki and for SRF.

I'm not sure El Rey would call it interesting

[biboquinhas]

So he hasn't made the deposit he has been told to do...now what? Does he have the money? I don't think so...what is the value of Pedralbes castle?

[An Ard Ri]

The defenses rely Urdangarin and Torres civil bail

Las defensas de Urdangarin y Torres recurren la fianza civil - YouTube

[Artemisia]

Originally Posted by biboquinhas

So he hasn't made the deposit he has been told to do...now what? Does he have the money? I don't think so...what is the value of Pedralbes castle?

Their house was bought for around €6 million. In order to buy the house, Inaki took a loan from Caixa Bank in order to be able to afford it. So far, they have only paid back the €1.5 million, meaning they ow the Bank around €4.5 million.

Inaki's house was put on sale for €7 million. However, given the current economic situation in Spain and especially the condition of the house market, I would be extremely surprised if it was actually sold for that amount. And even assuming it is, after paying back the Bank the €4.5 million they'll be left with just €2.5 million - which is nowhere near enough to cover the bail.

[GracieGiraffe]

Originally Posted by biboquinhas

So he hasn't made the deposit he has been told to do...now what? Does he have the money? I don't think so...what is the value of Pedralbes castle?

While I don't know how it works in Spain, in the US in those cases where a civil bond is required (unless there's a judgment outstanding, that's rare), should the person fail to post bond, then the other party is entitled to begin seizing assets, or putting liens on assets. That gets tricky when property is jointly owned between the judgment debtor and someone else, such as a spouse. The judgment holder is also entitled to start making inquiries into where certain funds are, or went, and may in some instances be able to follow that paper trail and claim a fraudulent transfer. The more money is on the table, generally the more complicated the asset structures and paper trails. The attorney's fees alone have no doubt eaten up some of what could have been posted as a bond, and now there might be even this subset of litigation involved here now.

I would assume there are similar repercussions in Spain, otherwise, why would a person obey the order to post civil bond, except for a contempt of court

At the end of the day, one of the attorneys might be able to buy that Pedrables Castle.

[GracieGiraffe]

Addendum: Isn't Inaki still entitled to that sweet little employment contract with Telefonica? The court could garnish that.

[lula]

Spanish royal faces asset freeze in scandal

AFP: Spanish royal faces asset freeze in scandal

[An Ard Ri]

I wonder if Infanta Cristina and their kids are still residing at the Pedralbes Mansion?