Princess Cristina: Judge’s Bail Stays At $3M, Even Spain’s Prosecutors Want Princess’ Bail Reduced
For a Spanish royal, the ticket for freedom is going to be quite expensive for Princess Cristina. A judge’s bail demand is standing firm at $3 million (or roughly 2.7 million euros), despite petitions from even the prosecutors to have the princess’ bail money reduced to a more manageable level. The odd part about the case is that it’s claimed the prosecution does not even believe Infanta Cristina is guilty.
In a related report by the Inquisitr, parents in Australia gave their three-year-old daughter a Disney princess birthday party that cost about $39,000, but they deny critics who say their extravagance will turn the girl into a “spoiled brat.”
Princess Cristina is one of King Juan Carlo’s three children and is a suspect in the first ever corruption and fraud case against a royal of Spain. A court in Palma de Mallorca says Princess Cristina’s husband, Inaki Urdangarin, and his former business partner, Diego Torres, funneled about five million euros ($6.41 million) in public funds to companies they controlled. The judge said Urdangarin and Torres “ignored the rules of public contracting as long as they achieved their aim, which was no other than to divert public funds for their own benefit or that of others.”
It is claimed there is evidence that Princess Cristina was aware her husband had used her name and status in his dealings. It’s also claimed she benefited personally from all the deals, since the other two men allegedly channeled the money through a non-profit company called Noos Institute, in which Princess Cristina was a board member. It’s also alleged they “set up to channel money to other businesses, including Aizoon, a company he owned with Cristina.” All of the Spanish royals have denied any wrongdoing.
While a $3 million bail was given to Princess Cristina, the judge’s bail decision for Urdangarin and Torres stood at about $6.5 million. The bail for the two men was not paid, so their property and other assets were frozen. The fight over the Princess’ bail had Prosecutor Pedro Horrach claiming that the court has no evidence that she committed any crime. Horrach requested that the princess’ bail be reduced, and Prince Cristina’s lawyers suggested 450,000 euros as a more reasonable amount, since that would be the amount she would pay if successfully convicted of the crimes.
According to the Associated Press, Investigative Magistrate Jose Castro would not take pity on Princess Cristina. The judge’s bail decision is standing firm at 2.7 million euros. Celebrity Net Worth estimates Princess Cristina’s net worth at $10 million, although it’s unknown whether her ability to pay the bail was affected by the freezing of her husband’s accounts. If the Spanish royal is convicted during the 2015 trial, she faces four years in prison for tax fraud.