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AP National Business

Spain: Prosecutors shelve fraud probes haunting former king

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Published 11:17 AM

By ARITZ PARRA
Associated Press

MADRID (AP) — Spanish prosecutors are shelving two investigations into alleged financial wrongdoing in Juan Carlos I’s business dealings that prompted the former monarch to move from Spain to Abu Dhabi. Prosecutors said Wednesday they didn’t find evidence that could be prosecuted, because the monarch was protected by immunity until his abdication eight years ago and because any possible fraud fell out of the statute of limitations. The probes allowed the recovery of 5.1 million euros ($5.6 million) in fines and taxes. Juan Carlos abdicated in favor of his son Felipe VI in 2014. Felipe has tried to distance himself from his father, removing the former monarch from the royal house’s payroll.

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