Princess Cristina sells house
Spain’s Princess Cristina has sold her house to fund her bail.
The 50-year-old princess – the sister of King Felipe – and her husband Inaki Urdangarin are currently awaiting trial for money laundering and fraud and had their bail set at 2.7 million euros and 13.5 million euros respectively.
And the couple have now lodged 2.4 million euros in a court account after selling their lavish home in Barcelona to partially cover the cost.
Last week, King Felipe stripped his sister of her title the Duchess of Palma.
The princess’ lawyer claimed she had asked the king to remove the title – which she received on her marriage to the former Olympic handball player in 1997 – but the royal palace insisted the monarch had made the decision before seeing her request.
Inaki is accused, along with 15 others, of embezzling 5.6 million euros of public money from the Noos Institute – a charitable sports foundation he ran with a business partner.
The princess is accused of involvement in the alleged scam.
It is the first time in modern Spain’s history that a member of the royal family has faced court cross-examination in a major corruption scandal.
Cristina – who, along with her husband, has denied all charges – is the first member of the royal family to stand trial since Spain’s monarchy was restored in 1975.
The trial is expected to take place this year.