Spain’s royal house says King Felipe VI has renounced any future personal inheritance he could receive from his father, King Emerit Juan Carlos I, over the alleged financial irregularities involving the former monarch. The royal house said in a statement that in addition to renouncing his inheritance, Felipe is stripping Juan Carlos of his annual stipend. The decision comes amid an ongoing investigation by Swiss prosecutors into an offshore account allegedly operated for Juan Carlos. King Juan Carlos I (PA)The account allegedly received 88 million euros (£78 million) from Saudi Arabia’s late King Abdullah in 2008, which prosecutors believes could be kickback payments, according to the Swiss newspaper Tribune de Geneva. Felipe denied any knowledge of the fund in Sunday’s statement.

Source: Irish Independent March 15, 2020 20:15 UTC