King Juan Carlos Reveals Hidden Earnings

King Juan Carlos, King Felipe’s father and Spain’s former head of state, has revealed previously-hidden earnings to tax authorities in an effort to avoid prosecution, news outlets have reported in recent days.

That does not mean, however, that the former monarch is welcome to return to the country from an unofficial exile, despite rumblings in that direction.

King Juan Carlos. Agencia EFE

Don Juan Carlos, who left Spain for the Middle East earlier this year amid scandal, is declaring more than 500,000 euros in expenses from money donated by a Mexican businessman and friend.

Separately, Swiss authorities have been investigating $100 million the Saudi Royal Family is said to have gifted the King. Much of the money, media outlets report, ended up in the hands of a former mistress, Corinna Larsen, who has generated controversy for years.

Spanish authorities have been probing whether the money was a kickback for securing a high speed rail development contract between the Saudis and Spanish firms. Media outlets say the King’s attorneys believe that case will be closed because of lack of evidence.

Spanish tax authorities are saying King Juan Carlos does not have accounts abroad, news outlets reported. He is said to be addressing financial issues following his abdication, where he lost his legal immunity.

King Juan Carlos and King Felipe. Spanish Royal Household

Media outlets reported the King’s desire to return and spend Christma with family. The Royal Household and the government have said that’s premature.

The Socialist-led government has been facing pressure from both the right and left on the issue. Progressives in coalition partner Podemos have been attacking the monarchy. And while Prime Minister Pedro Sánchez told the press the Crown was not in danger, monarchists slammed him for not queting Podemos.

King Juan Carlos signing abdication papers in 2014. Spanish Royal Household

King Juan Carlos helped transition Spain from dictatorship to democracy, but even his supporters agree he erred in his financial dealings. His relationship with Larsen contributed to his abdication.


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