KING Felipe VI's younger sister, the Infanta Cristina has been absolved of charges of money-laundering but those of tax evasion against her have been upheld.
They carry a prison sentence of up to five years, whilst the charges against her dropped would have meant a maximum of six.
Whilst not out of the woods yet, the Infanta – also known as the Duchess of Palma – is said to be relieved that the 'more serious' of the two has not been applied.
This said, the fines applicable for tax evasion, at up to six times the amount defrauded, are higher than for money-laundering where sanctions are capped at three times the sum swindled.
Ever since the notorious 'Nóos case' came to light nearly three years ago, charges against the Infanta Cristina have been applied and then dropped several times, but yesterday (Friday) would see judge José Castro make a final and binding decision ahead of the ultimate trial.
The Duke of Palma, Iñaki Urdangarín – the Infanta's husband – could still face up to 20 years behind bars for his part in a complex system of public fund embezzlement along with his business partner, Diego Torres.
They had set up what they claimed to be a charitable organisation to promote culture and sports, known as the Nóos Institute, and its non-profit status meant it was able to receive cash from regional and central governments to finance its events.
But the Institute was in fact very much a business, and by inflating costs, Torres and Urdangarín were able to make a very healthy profit which they pocketed for themselves.
Urdangarín laundered these funds through the 'front' company Aizoon, S.L., a firm set up in 2003 owned 50-50 by the Duke and his wife, which never paid dividends and apparently had no commercial activity.
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