Iñaki Urdangarin, the Duke of Palma de Mallorca, has announced that he is taking a leave from his post at Spanish multinational Telefónica.
The Duke, husband of the King’s youngest daughter, the Infanta Cristina, is returning to Barcelona from his post in the Washington, D.C. area.
Facing corruption allegations stemming from his work with the non-profit Noos Institute, media reports say Urdangarin wants to be in Spain to defend himself and wants to protect his employer from any controversy.
News reports from last month indicated that Urdangarin signed a new work contract with Telefónica. He was set to receive almost 3 million euro in compensation.
Prosecutors say the Duke and an associate funneled public funds for personal gain. They are also accused of document fraud.
The Duke denies wrongdoing and the Royal Household has stressed that King Juan Carlos urged his son-in-law to stay away from lucrative business dealings.
Media reports say Urdangarin, his wife and their children will move to a more modest home in the Barcelona area and abandon their current residence in the posh neighborhood of Pedralbes.
Prince Felipe was in the Dominican Republic this week for the swearing-in of new Dominican President Danilo Medina.
Prince Felipe has been representing the Kingdom at such ceremonies at Ibero-American countries since 1996. It’s a means of getting officials, particularly throughout Latin America, used to the future Spanish King.
During his visit, Prince Felipe also met with outgoing President Leonel Fernández, who was in Madrid earlier this year.
Earlier this week, Prime Minister Mariano Rajoy met King Juan Carlos at Marivent Palace, where members of the Royal Family are vacationing.
Prince Felipe and Princess Letizia attended the 2012 Olympics closing ceremonies.
In the days leading up to yesterday’s festivities, the Prince and Princess of Asturias joined Queen Sofia in visiting Spanish athletes, touring the campus and speaking with journalists.
In an embarrassing moment that is making worldwide news, Olympics staff members refused the Royal Family entry to a restricted section at one of the venues. They wanted to greet Nico Garcia for a silver medal in Taekwondo.
Balearic Island anti-corruption prosecutors will present their findings next month related to corruption allegations against Infanta Cristina’s husband Iñaki Urdangarin, the Duke of Palma, according toEl País.
Officials allege that the Duke and his business partner embezzled public funds through their Nóos Institute, a non-profit group.
Last month local media reported that Urdangarin had signed a new work contract with Spanish multinational Telefónica. He will receive almost 3 million euro in compensation.