The judge overseeing the corruption case involving Iñaki Urdangarin, the son-in-law of Spain's King Juan Carlos, could seize the firm Aizoon, owned by Urdangarin and his wife, Princess Cristina, if he eventually sets a bail of almost 8.2 million euros ($10.4 million).
Court sources informed Efe of the possibility on Thursday after the anti-corruption prosecutor on Wednesday asked for bail in that amount for Urdangarin and his former partner Diego Torres with the aim of covering the cost of potential civil financial obligations stemming from their possible convictions in the so-called "Noos case."
The Anti-corruption Bureau believes that the two men conducted, via that supposedly non-profit institution, "premeditated criminal activity" to appropriate public funds from the regional governments of the Balearic Islands and Valencia.
So, the anti-corruption unit believes that it would be proper to declare the direct civil responsibility of the Noos Institute and 10 companies because they benefited from the fraud that is under investigation.
Among those companies is Aizoon S.L., a real estate firm owned by the Duke of Palma and Princess Cristina, the younger daughter of King Juan Carlos, and through which they administered their personal wealth, according to the statement presented to the judge on Wednesday by the Anti-corruption Bureau.
The prosecutor calculates that the Duke of Palma, along with his ex-partner, appropriated about 6 million euros and diverted the money to the non-profit institute they headed using fake or inflated invoices. EFE