Spain’s courts shelve all probes into ex-king’s finances

Spanish prosecutors have dropped all investigations into the finances of former king Juan Carlos which prompted him to flee the country into exile in 2020, court documents showed Wednesday.

Spain's courts shelve all probes into ex-king's finances
Spain's King Felipe VI and his father Juan Carlos I salute during Epiphany Day celebrations in 2018. The court's decision means the 84-year-old former monarch could return from exile in the United Arab Emirates.(Photo by Juanjo Martín / POOL / AFP)

“The investigation.. does not, in the Prosecutor’s opinion, allow for any criminal action to be brought against His Majesty Juan Carlos,” said the legal document released by the public prosecutor’s office.

The move could pave the way for the 84-year-old former monarch to return from exile in the United Arab Emirates.

Since December 2018, prosecutors have opened three separate investigations into the former king’s finances but shelved all of them for reasons including “the lack of incriminating evidence, the statute of limitations, the inviolability of the head of state and tax regularisation” payments he made in recent years.

Lawyer Javier Sanchez-Junco, whose firm was representing the former royal, confirmed the decision, saying prosecutors had concluded that “in none of the cases.. did they find any wrongdoing that could be attributed to King Juan Carlos or conduct that could be subject to criminal prosecution”.

Investigators initially began probing his finances over possible illegal commissions linked to a high-speed rail project in Saudi Arabia that was awarded to a Spanish consortium in 2011.

The suspicions centre on $100 million (€87 million) that Saudi Arabia’s late King Abdullah deposited into a Swiss bank account in 2008, to which Juan Carlos had access.

But the public prosecutor’s office said investigators “had not been able to establish, even indirectly, any link between the aforementioned payment.. and the awarding of a construction contract for a high-speed railway line in Saudi Arabia”.

Swiss prosecutors had also opened a probe into the same issue in 2018 but dropped the case in December for lack of evidence.

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IN PICS: Crowds gather to greet Spain’s exiled ex-king on first visit back

Spain's former king attended a regatta in Galicia on Friday on a controversial first trip home after nearly two years in exile following a string of financial scandals. "Long live the king!" and "scoundrel" were both heard from the crowd of bystanders and journalists present.

IN PICS: Crowds gather to greet Spain's exiled ex-king on first visit back

Although prosecutors have closed their probes into Juan Carlos I’s affairs, revelations about the murky origins of his fortune have done irreparable damage to a figure once revered for his role in Spain’s democratic transition after decades of dictatorship.

Pulling up to the sailing club in the resort town of Sanxenxo, the 84-year-old — who flew in from Abu Dhabi on Thursday evening — was greeted by dozens of well-wishers, and a crowd of journalists.

As he got out of the car wearing a white top, cream vest and salmon slacks and began shaking hands with supporters, there were cries of “Long live the king!”

Spain’s former King Juan Carlos I (L) waves to the crowd from a car as he arrives in Sanxenxo, northwestern Spain. (Photo by Brais Lorenzo / AFP)

But there were also a few cries of dissent with one man shouting “scoundrel” — a possible reference to the financial scandals that prompted Juan Carlos to move to Abu Dhabi in self-imposed exile in August 2020.Hobbling along with his cane and holding onto the arm of an aide, the ex-monarch beamed as he greeted the crew of his yacht, the “Bribón” — Spanish for “rascal”.

Crowds cheer as Spain’s former King Juan Carlos I arrives at the nautical club in the Galician town of Sanxenxo. (Photo by Brais Lorenzo / AFP)

The six-metre (20-foot) racing yacht is the same vessel with which he and his crew won the world sailing title in 2017 and 2019.

It was unclear whether he would be joining them aboard for the race. He has not sailed for some three years, Spain’s RTVE public television said.

Spain’s former King Juan Carlos I (3rdR) prepares to board his “Bribón” boat with the help of his walking stick and his entourage. (Photo by Brais Lorenzo / AFP)

The former monarch will stay with a close friend in Sanxenxo until Monday when he travels to Madrid for a brief visit with his wife Sofia, his son King Felipe VI and other family members.

He will leave for Abu Dhabi later on Monday, the palace said.

News of the disgraced former king’s impending arrival sparked a backlash earlier this week.

“There is no longer any legal or judicial reason to stop the king emeritus from travelling to Spain but there are a wealth of ethical grounds that explain the commotion this has caused,” an El Pais editorial said on Thursday.

“Anyone returning to Spain with a record like king Juan Carlos I would be arrested and prosecuted as soon as they crossed the border” it tweeted.