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Spain’s Prime Minister wants the country’s former King – who is alleged to have kept a hidden fortune in Jersey – to be stripped of his immunity from prosecution.
A probe into exiled ex-monarch Juan Carlos I was triggered last year by an apparent attempt to transfer millions of euros from an offshore account in Jersey which was picked up by Spain’s anti-money laundering authority.
The cash in the fund, which was set up in the 1990s, was reported to have come from the Kuwait Government as a “sweetener” for Spain’s support for the coalition against Saddam Hussein in the first Gulf War.
He is also accused of money laundering and possible tax evasion relating to funds in Switzerland and Mexico, and was last summer placed under investigation by the public prosecutor’s office in connection with the receipt of $100m from Saudi Arabia’s former king.
Juan Carlos I has previously vigorously denied any responsibility – direct or indirect – for any Jersey trust and denies further wrongdoing. Since investigations began, the 'Rey Emeritus' - now facing a new London High Court battle against his former mistress - is reported to have paid more than €5m to Spain’s treasury.
This week, it was reported in the media that Spanish authorities may be on the verge of dropping investigations into any alleged crimes because any actions prior to his abdication in 2014 cannot be tried due to Article 56.3 of the Spanish Constitution, which says monarchs are "inviolable and not subject to liability."
Having previously told Spanish TV channel La Sexta that Juan Carlos I should provide a public explanation of the "unpleasant" allegations surrounding him, Prime Minister Pedro Sánchez this week called for the end of sovereign immunity.
He dubbed it a “product of another age” and said he did not think it right to continue “in an era of consolidated democracy.”
Watch: Former Spanish king facing Jersey funds probe
Former Spanish king denies hiding wealth in Jersey
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