Princess Cristina Of Spain Under Investigation For Tax Fraud, Money Laundering

Princess Cristina of Spain leaves after visiting King Juan Carlos I of Spain at La Milagrosa Hospital on March 4, 2013 in Madrid, Spain. (2013 Getty Images)

Less than a month after a Spanish court withdrew a subpoena against Princess Cristina, a judge revealed the Spanish royalty is under investigation for tax fraud and money laundering.

Palma de Mallorca court judge Jose Castro on Friday asked tax authorities for information regarding Cristina's property and investments as well as finances relating to her partnership with her husband, Inaki Urdangarin, in a firm called Aizoon.

Princess Cristina is the daughter of Spain’s King Juan Carlos, and the announcement was the latest blow to the Spanish royal family's reputation.

The court recently withdrew a subpoena against the 47-year-old princess for questioning over the alleged embezzlement of public funds by Urdangarin, but said she could still be called to answer questions regarding their finances.

Friday's decision comes after a year of health and image problems for the 75-year-old Juan Carlos, once one of Spain's most respected figures who is widely admired for his role in helping Spain return to democracy in the 1970s after decades of dictatorship. There was no immediate comment from the palace.

The princess’ husband is at the center of a nearly three-year investigation into whether he and his former business partner took advantage of their royal connections to funnel about $6.5 million in public funds that their nonprofit Noos Institute received into private businesses they also controlled.

A poll released earlier this month by the government-run Center for Sociological Research indicated the monarchy's popularity rating has plunged to unprecedented levels. It said that on a scale from 0 to 10, those questioned for its April survey rated the royal family at 3.68, down from 4.89 in October, 2011, the last time the question was asked.

Based on reporting by The Associated Press. 

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