(Patria) – A statement from the Spanish royal palace announced that King Felipe VI has renounced any inheritance that might come to him in the future from his father, King Emeritus Juan Carlos I, due to alleged financial irregularities concerning the former monarch.
The statement further says that in addition to renouncing the inheritance, Felipe (52) has withdrawn his father Juan Carlos's (82) annual stipend. In 2018 alone, the former monarch received 194,232 euros.
An investigation into offshore accounts allegedly belonging to former King Juan Carlos is underway, led by Swiss prosecutors. So far, 88 million euros are said to have arrived in the account from King Abdullah, the former monarch of Saudi Arabia, and the newspaper Tribune de Geneve reports that this is a case of bribery.
The British newspaper The Telegraph writes that Felipe was named as a beneficiary of an offshore fund controlling a Swiss account with an alleged gift of 65 million euros from Saudi Arabia given to his father while he was on the throne.
Juan Carlos was crowned in 1975 and reigned until his abdication in 2014.
Felipe denies knowing about the fund reported by European newspapers, according to Euronews.
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