Today's Paper Search Latest Coronavirus Elections Core values App Listen Story ideas iPad Weather Newsletters Obits Puzzles Archive
ADVERTISEMENT
story.lead_photo.caption Spain's King Felipe VI (right) and his wife, Queen Letizia, look at the crowd with their daughters Princess Leonor (second left) and Princess Sofia, and the king's father, former King Juan Carlos, after their arrival for celebrations of the 40th anniversary of the Spanish Constitution at the Spanish parliament in Madrid, Spain, in this Dec. 6, 2018, file photo. (AP / Andrea Comas )

MADRID — Spain’s royal house said Sunday that King Felipe VI has renounced any future personal inheritance he could receive from his father, King Emeritus Juan Carlos, after the former monarch was accused of financial irregularities.

The royal house said in a statement that in addition to renouncing his inheritance, Felipe is stripping Juan Carlos of his annual stipend.

The decision comes amid an ongoing investigation by Swiss prosecutors into an offshore account that they say was operated for Juan Carlos. The account allegedly received $100 million from Saudi Arabia’s late King Abdullah in 2008, which prosecutors believes could be kickback payments, according to the Swiss newspaper Tribune de Geneva.

On Saturday, British newspaper The Telegraph reported that Felipe was named as a beneficiary of an offshore fund that controls the Swiss account with an alleged $72 million gift from Saudi Arabia given to his father when he was on the throne.

Felipe denied any knowledge of the fund in Sunday’s statement.

ADVERTISEMENT

Sponsor Content

COMMENTS - It looks like you're using Internet Explorer, which isn't compatible with the Democrat-Gazette commenting system. You can join the discussion by using another browser, like Firefox or Google Chrome.
It looks like you're using Microsoft Edge. The Democrat-Gazette commenting system is more compatible with Firefox and Google Chrome.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT