Spanish princess agrees to testify in tax fraud case

Spain's Princess Cristina will not appeal a court ruling summoning her to testify over tax fraud and money-laundering charges and will appear before the Palma de Mallorca court, her lawyers said today.

“Her Royal Highness has decided to renounce her right to appeal... and to appear voluntarily before the judge,” the lawyers said in a statement.

Cristina, the younger daughter of King Juan Carlos was this week officially named as suspect in a corruption investigation into her husband’s business dealings, deepening the Spanish monarchy’s credibility crisis.

Investigating judge José Castro issued a summons on Tuesday for Princess Cristina (48) to appear in court on March 8th, under suspicion of having committed tax fraud and money laundering.

Conviction on such charges can result in prison sentences of up to five and six years respectively.

The magistrate believes he has enough evidence for the princess to be questioned about the business dealings of her husband, Iñaki Urdangarin, who is accused, along with his former business partner, Diego Torres, of siphoning off millions of euro of public funds from the Nóos charity into private bank accounts.

When she testifies in court, she will be the first direct member of the Spanish monarchy to do so.