Juan Carlos I, Former Spain’s King, Closed a Bank Account in Switzerland Because the Government Tightened the Anti-Corruption Legislation

Juan Carlos I, Spain’s former king, closed an account in a Swiss Bank in June, 2012, because the government had tightened the anti-corruption legislation. This is stated in the international letters rogatory that the Swiss Prosecutor’s Office sent to the judge of the Villarejo case, Manuel García-Castellón. It was reported by El País newspaper on Monday.

The prosecutor Yves Bertossa declared that the account of the Lucum Foundation, whose first beneficiary is Juan Carlos I, was closed “due to the new Swiss tax legislation” and adds that the then head of state “signed an order to transfer the balance of Lucum’s account to Corinna Larsen (the ex-lover of Spain’s former King) in the name of Solare Investors Corporation at Gonet and Cie Bank in Nassau, Bahamas.”

In this way, Corinna Larsen kept the funds of the Lucum Foundation, whose second beneficiary is the current head of the Spanish State, Felipe VI. The king of Spain was informed a year ago by Corinna Larsen’s lawyers of his situation and then, according to the Royal Household, he went to the notary to renounce his father’s inheritance, although experts in Civil Law emphasize that it is just a gesture because you cannot give up the living inheritance of the owner of the money.

Prosecutor Bertossa is investigating an alleged crime of “aggravated money laundering” and the alleged payment of commissions for the work of the AVE from Medina to Mecca built by a consortium of Spanish companies led by OHL. According to the prosecutor, the winning bidders had granted in their offer a “30 percent discount” for the alleged intercession of the king, who would have taken 64.8 million euros in exchange.

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