The Swiss prosecutor Yves Bertossa has accused the president of Banco Mirabaud, Yves Mirabaud, for not having informed to the anti-money laundering body upon entry into your entity in 2008 of the amount of 65 million euros destined to the account of the Panamanian foundation Lucum, of which the emeritus king Juan Carlos I.
According to El País and sources of the case have confirmed to Europa Press, the prosecutor of the canton of Geneva thus includes Mirabaud among those investigated in the case that is followed in the Swiss country for money laundering and the collection of irregular commissions. The reason is the lack of transparency about that donation of 100 million dollars –65 million euros – that the emeritus received from King Abdullah of Saudi Arabia.
This new step in the Swiss investigation comes just one year into the exile of the king emeritus to the United Arab Emirates, where he has resided ever since. The announcement that the one who was King of Spain for almost four decades was going back into exile, in which he was born, was the culmination of a series of events, which accelerated as a result of his abdication in June 2014, linked to his private life and its financial activities that have ended up placing you in the crosshairs of justice.
His departure from the country came after the ‘Sunday Telegraph’ unveiled on March 14, 2020 a generous millionaire ‘gift’ to the emeritus from Saudi Arabia. This led to Don Felipe announcing on March 15 that the King Emeritus was withdrawing his assignment.
In addition, in March 2019, two letters were received in Zarzuela from the British law firm where Corinna Larssen’s lawyer, Juan Carlos I’s ex-lover, works, informing that Don Felipe and the Princess of Asturias were listed as the second and third beneficiaries of the Lucum Foundation.
This foundation was created in 2008 to supposedly hide that donation that Saudi Arabia would have made to the then head of state. Those funds remained in an account in Switzerland until in 2012 the emeritus transferred the 65 million to Corina Larssen.
On the other hand, on March 2, 2019 Álvaro de Orleans-Borbón, distant cousin of Juan Carlos I, denied in an interview in ‘El País’ that he was the “figurehead” of the emeritus and he assured that the funds of the Zagatka Foundation, created in 2003 in Geneva, were his and that his objective was to be able to help the royal families in need.
The next milestone in the emeritus’ judicial development came on June 5 when the State Attorney General, Dolores Delgado, entrusted the prosecutor of the Supreme Court of the specialty of Economic Crimes, Juan Ignacio Campos, with the proceedings regarding the alleged collection of commissions by the emeritus for the concession of the AVE to Mecca to Spanish companies.
As explained by the Attorney General’s Office (FGE), the investigation undertaken by Campos was derived from the Proceedings opened in December 2018 by Anti-Corruption to clarify the destination of 80 million euros According to Corinna Larsen, Don Juan Carlos was distributed among others for the aforementioned award in 2011.
With the emeritus already in the United Arab Emirates, last November the Supreme Court Prosecutor’s Office announced two new investigations. The first, due to the use by Don Juan Carlos and other relatives of opaque credit cards charged to accounts in which none of them appear as holders in the years 2016, 2017 and 2018. Given that the expenses exceeded the rent increases not declared above 120,000 euros, the Prosecutor’s Office warned that they could constitute a tax offense.
The second is related to the existence of an account with 10 million euros in the name of the King Emeritus on the island of Jersey, a tax haven.
Faced with these facts, the former monarch proceeded on December 9 to a tax regularization for 678,000 euros in relation to the use of bank cards with opaque funds of the Mexican businessman Allen Sanginés-Krause, one of the three cases investigated against him.
This was followed by a second – in theory the last – on February 25 for almost 4.4 million euros for undeclared income during several years that add more than 8 million euros of payments in kind and that have to do with “certain expenses for travel and services performed” by the King Emeritus at the expense of the Zagatka Foundation, in charge of his cousin Álvaro de Orleans- Borbón, who is being investigated by the Swiss Prosecutor’s Office for the activities of this firm.
The payments would have been made until 2018, after the abdication, and the Emeritus King would appear as a beneficiary of Zagatka until June 2020, when the foundation modified its statutes and suppressed Don Juan Carlos and his three children as beneficiaries. In this sense, Álvaro de Orleans once again claimed that the foundation is his and that he does not act as a “front man.”
In May, the Tax Agency (AEAT) notified the King Emeritus of the opening an inspection and asking for more information to verify the veracity of the regularizations that he has presented and that have allowed those almost 5 million euros to emerge, most of it allegedly related to private flights that his cousin’s foundation paid for him.
Meanwhile, the emeritus adds a new judicial front, and it was known in July that his ex-lover Corinna Larsen has filed a lawsuit against him before the High Court of London in which he claims compensation for the costs of his mental health medical treatment , for the expense derived from the “installation of personal security measures and daily protection services” and for the amount of hiring “former diplomats and former government officials” to intervene in order to “put an end to harassment.” that denounces by the king emeritus. He also claims that Juan Carlos I cannot get closer than 150 meters from any of his residences.