15th Jul 2014 Accountant confesses in Spanish royal corruption scandal Share The accountant of the King of Spain's brother-in-law has made a detailed written confession laying out how Inaki Urdangarin allegedly embezzled millions of euros through his non-profit organisation Noos Foundation, a Spanish court said on Thursday.The confession is the latest development in an embarrassing and drawn-out corruption investigation which threatens to hold back the royal family's attempts to rebuild its reputation following last month's coronation of King Felipe VI.Urdangarin, 46, a former Olympic handball player, is accused of using his connections to win public contracts putting on events through his Noos Foundation and embezzling millions of euros in public funds through the organisation.The state prosecutor handed over to Palma Examining Magistrate Jose Castro a written account from Urdangarin's accountant, Marco Antonio Tejeiro, detailing criminal acts he had allegedly committed, the Supreme Court of the Balearic Islands said.The court did not give details of these accounts, but Spanish newspaper El Mundo reported the accountant had confessed the Noos Foundation had never acted as a charity and Urgandarin and his partner funnelled funds into offshore accounts in order to pay less taxes.Urdangarin and the newly-crowned king's sister, Cristina de Borbon, have both denied wrongdoing. De Borbon has been charged with tax fraud and money laundering.Read More by SmartSearch See more articles by SmartSearch Share post See our other popular articles 18th Apr 2024 Fighting FinCrime in financial services: optimising the balance between innovation and compliance by SmartSearch 14th Feb 2023 ‘Failure to prevent’ fraud, false accounting or money laundering could soon be a punishable offence by SmartSearch 2nd Feb 2023 SmartSearch COO named Technology Businesswoman of the Year at national award by SmartSearch See more
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