Spain's indicted princess seeks bail cut in tax-fraud case

AP News
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Posted: May 08, 2015 9:42 AM

MADRID (AP) — Princess Cristina on Friday presented a list of assets she will be blocked from selling while she awaits trial on tax fraud charges, a court in Palma de Mallorca said.

The princess filed the list before the afternoon deadline and also sought a reduction in her 2.7 million euros ($3 million) bail, which the assets are designed to cover, the court said in a statement.

The court said Judge Jose Castro would decide on the petition next week.

No details of the list were released nor did the court say by how much the princess wanted the bail reduced. She has already put up 580,000 euros toward bail.

Under the block, no property will be seized from the princess but she will not be able to sell any of it.

Cristina, the 49-year-old sister of King Felipe, was indicted in December as part of a four-year probe into her husband, Inaki Urdangarin, who faces charges including money-laundering and fraud.

The trial is expected to begin before the end of the year.

She is the first Spanish royal family member ordered to stand trial since the monarchy was restored in 1975. If convicted she could face up to four years in prison.

Urdangarin, a former Olympic handball medalist turned businessman, faces a possible sentence of up to 19 years.

Urdangarin is accused of using his Duke of Palma title to embezzle about 6 million euros in public contracts through the Noos Institute, a nonprofit foundation he and a business partner set up to channel money to other businesses, including Aizoon, a company he owned with Cristina.

Another 15 people are charged in the case.

Cristina and Urdangarin, through their lawyers, have repeatedly asserted their innocence

The case was one of several scandals to affect the royal family under former King Juan Carlos, who abdicated in favor of Felipe last year.