Spanish princess charged in corruption case

A Spanish court said on Wednesday it had formalized charges against Cristina de Borbon, sister of newly-crowned King Felipe VI, and her husband in a corruption investigation, paving the way for a trial that could further damage the royal family.

The Palma de Mallorca court upheld charges of tax fraud and money laundering against Princess Cristina, in one of the last steps before opening trial proceedings.

Read MoreSpain says goodbye to its king—and austerity

Spain's Cristina de Borbon, sister of the newly-crowned King Felipe VI, leaves a courthouse after testifying in front of judge Jose Castro over tax fraud and money-laundering charges in Palma de Mallorca February 8, 2014.
Reuters
Spain's Cristina de Borbon, sister of the newly-crowned King Felipe VI, leaves a courthouse after testifying in front of judge Jose Castro over tax fraud and money-laundering charges in Palma de Mallorca February 8, 2014.

Her husband Inaki Urdangarin is accused of embezzling several millions of euros in public funds and a trial would center on his business dealings.

The rulings - which can be appealed before a trial begins - come barely a week after King Juan Carlos abdicated in favour of his son Felipe, in a bid to revive the monarchy's scandal-worn image at a time of economic hardship.

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