Urdangarín fails to pay 8.2-million bail release
Thursday, February 7, 2013 @ 5:40 PM
THE King and Queen's son-in-law Iñaki Urdangarín and his business partner Diego Torres have failed to come up with the 8.2-million-euro bail-bond imposed on them in the Nóos Institute case. This means the court will proceed to embargo their assets up to this amount to cover possible liabilities if they transpire to be guilty of the corruption and money-laundering charges they face. Both could face up to 20 years in jail if this is the case. Although they are not the only parties involved, both men have a joint obligation to deposit 8,189,400 euros with the courts for allegedly receiving regional government funds fraudulently from Valencia and the Balearic Islands, by setting up the Nóos Institute as a non-profit-making entity when it was in fact anything but
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