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Spain’s King Felipe Distances Himself from Allegations of $100M Transfer from ex-Saudi King

Jul 24, 2020

Spanish media have recently consistently been reporting on the efforts of King Felipe VI, Spain’s current head of state, to distance himself from his father, former King Juan Carlos I. Juan Carlos abdicated in 2014 amid a storm of financial scandal. He had also faced harsh criticism for his elephant-hunting trip to Botswana during Spain’s financial crisis in 2012. His abdication, however, did not stop the investigations. The Economist reports that the 82-year-old former king is under the spotlight for his lavish lifestyle.

Swiss prosecutors are examining documents that allege Juan Carlos may have received $100 million from Saudi Arabia’s King Abdullah, in 2008. There are theories that the money may have been related to a contract for a Spanish consortium’s construction of a high-speed train between the Holy cities of Madinah and Makkah in Saudi Arabia.

King Felipe renounced any personal inheritance from his father in March. He also stopped the annual public stipend paid to the former king. The move was prompted by various news reports claiming King Felipe might inherit large sums from two offshore foundations allegedly linked to his father.

Spain’s Prime Minister Pedro Sanchez said “all Spaniards are witnessing the unsettling reports” about the murky finances of the royal family.

Umm Muhammed Umar


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