• Spain's news in English
Panama Papers
Spanish king's aunt admits she had company in Panama
Pilar de Borbon with the young princesses at the abdication, June 2014. Photo: AFP

Spanish king's aunt admits she had company in Panama

The Local · 7 Apr 2016, 09:38

Published: 07 Apr 2016 09:38 GMT+02:00

Facebook Twitter Google+ reddit

Pilar de Borbon, the elder sister of former monarch King Juan Carlos, said in a statement sent to the Europa Press news agency that the company never had revenues "outside the control of tax authorities" and that it never failed to comply with "any obligation of Spanish tax law."

The relevation that she had an offshore company comes as King Felipe tries to clean up the monarchy's image since he took the throne in 2014 after his father abdicated, due in part to corruption scandals that hit the royals.   

Princess Cristina, Felipe's sister, is currently on trial accused of being an accessory to tax evasion in a case linked to her husband's dealings when he ran a foundation.

The Panama Papers scandal erupted Sunday when media groups made public an investigation into a trove of 11.5 million documents leaked from Mossack Fonseca, a law firm, on offshore accounts held by prominent individuals.

While offshore holdings can be legal, they can also be used to hide wealth.   

Among those involved are friends of Russian President Vladimir Putin, the brother-in-law of Chinese leader Xi Jinping, Argentine football star Lionel Messi and Iceland's Prime Minister Sigmundur David Gunnlaugsson who has since resigned.

According to Spanish online daily El Confidencial, which had access to the leaked documents from Panama-based Mossack Fonseca, Pilar de Borbon "for years presided and headed a company based in Panama".   

The 79-year-old became president of the firm, Delantera Financiera SA, in 1974, a year before her brother Juan Carlos acceded the throne, the newspaper said.

She left the presidency of the firm in 1993 but remained linked to the company, which was dissolved on June 24, 2014, five days after her nephew Felipe was proclaimed king.

Pilar de Borbon said the fact that she was listed as the head of the company, along with her late husband and later one of her sons "reveals that there never existed a desire on our part to hide its existence or our participation in it".    

Story continues below…

She said her family gained control of the company in 1974 when her husband Luis Gomez-Acebo, a financial advisor, decided to expand his professional activities outside of Spain.

But after her husband developed cancer in 1984 the company did not develop any new projects, she added. Gomez-Acebo died in 1991.    

Pilar de Borbon said the company was dissolved in June 2014 because it did not have enough resources to justify its upkeep.

For more news from Spain, join us on Facebook and Twitter.

The Local (news@thelocal.it)

Facebook Twitter Google+ reddit

Your comments about this article

Today's headlines
Russia withdraws request to refuel warships in Ceuta
The aircraft carrier Admiral Kuznetsov was due to dock in Ceuta

Russia has withdrawn a request for its aircraft carrier group to be refuelled at the Spanish port of Ceuta, authorities confirmed.

Bulls replace guard dogs at scrap yard in Valencia
Two bulls will be patrolling the scrap yard in eastern Spain. Archive photo: AFP

Guard dogs were not proving enough of a deterrent to thieves at a car breakers yard in eastern Spain so the owner has brought in a pair of fighting bulls.

Two-headed shark born in Spanish laboratory
Scientists are studying the rare find. Photo: IBIMA / University of Malaga

Scientists at the University of Malaga found the embryo of a shark with two heads and just one body.

Spain under pressure to stop refuel of Russian warships
Russian aircraft carrier Admiral Kuznetsov is due to arrive in Ceuta. Photo: Mil Ru / Wikimedia

Spain is facing international pressure to refuse permission for a Russian warship flotilla to refuel in Ceuta en route to continuing airstrikes against the Syrian city of Aleppo.

Most wanted: Fugitive rapist arrested in Tenerife
Mohammed Jahangir Alam was arrested n Tenerife. Photo: Crimestoppers.

Mohammed Jahangir Alam, one of Britain's most wanted fugitives, who fled the country in 2008 after allegedly raping a woman, was found working in Tenerife.

Spain's Rajoy says king has tasked him with forming govt
Photo: AFP

Spain's king on Tuesday tasked Mariano Rajoy with forming a government, taking the acting conservative prime minister a step closer to power again after a 10-month political deadlock.

Two imams arrested in Ibiza resort over 'Isis support'
The men were arrested in the resort of Sant Antoni de Portmany. Photo: Jose A / Flickr

Two Moroccan imams at a mosque on the Spanish resort island of Ibiza were arrested Tuesday on suspicion of backing the Islamic State group and inciting jihad.

Balearic Islands choose to keep summertime forever
The islands will have longer evenings during winter. Photo: AFP

The Balearic Islands want to keep summertime when the rest of Spain turns the clocks back on Sunday.

  Brazilian had 'uncontrollable desire to kill': Spain police
Francois Patrick Nogueira Gouveia has been charged with murdering his uncle, his wife and their two children. Photo: Guardia Civil.

A Brazilian teenager accused of dismembering his uncle and aunt and killing their two young sons in a grisly crime that shocked Spain had an "uncontrollable desire to kill", police said on Monday.

Man rescued from bin after climbing in to find old clothes
Photo: Policía Local Murcia

Police were called after passersby reported hearing a man calling for help from within a rubbish bin in the Vistabella neighbourhood of Murcia, southern Spain.

Analysis & Opinion
Out of the dark: Five years on from Eta ceasefire
Sponsored Article
Last chance to vote absentee in the US elections
Spanish 'La Mafia' restaurants banned after Italian complaint
Spain's top court overturns bullfighting ban in Catalonia
Hunt launched for ten most wanted Brit fugitives hiding out in Spain
Napflix: Spaniards launch very boring TV channel for siestas
Madrid parish church faces fine over 'too noisy' bells
Celebrate expat life at Madrid’s THRIVE convention
Fury after kids told to bring their own loo roll to school
Disney announces plans for Don Quixote action movie
Activist tells 8-yr-old matador wannabe with cancer 'just die'
King to make last minute push to avoid third vote in Spain
Amazing photos of Catalonia's 'human tower' contest
What's on in Spain: October 2016
'No way, Jose! You'll never get your hands on our Rock'
Recipe: How to make a classic Spanish tortilla de patatas
Chorizo in paella? Go back to cooking school Jamie Oliver
Spain in eye of a perfect storm after 10 months without govt
Thousands share clips of life for 'Spain in a Day' film
Ten incredible Spain locations for Game of Thrones season 7
Analysis & Opinion
Why moving to Spain could be the best decision of your life
Seven reasons why autumn is the very best season in Spain
Spanish study finds four types of personality. Which are you?
New search underway for civil war grave of poet Lorca
jobs available