Swiss prosecutors dismiss corruption case against Juan Carlos, former Spanish King. He is accused of receiving kickbacks totaling $100 million for his work on the Saudi Arabian rail line.

  • Saudi Arabia’s late King Abdullah paid $100m into Swiss bank account in 2008 
  • Saudi granted lucrative building contracts to Spanish railroad firms in 2011 
  • Juan Carlos could access the Swiss bank account. It was claimed that the money had been used to pay bribes 
  • However, the Swiss prosecutor couldn’t “sufficiently” link money and contract for train transport.

Swiss prosecutors today dropped an investigation in Spain into King Juan Carlos’s bribery allegations over the construction of a rail line.

The Geneva Attorney General’s office said it was not able to establish a ‘sufficient’ link between money sent to a Swiss bank account by Saudi King Abdullah in 2008, and Spanish firms being handed a lucrative rail-building contract in 2011.

Juan Carlos was well-known for having access to the Swiss bank accounts. In 2018, allegations emerged that he received some money in a kickback.

Prosecutors said the money was not sufficiently documented, but they were unable to support the main allegation, that it was a bribe.

This brings an end to just one corruption trial Juan Carlos faces after he abdicated in disgrace his throne for King Felipe in 2014.  

Swiss prosecutors have dropped a probe into whether Juan Carlos, former King of Spain, was paid $100million by Saudi Arabia as a bribe over a train contract

Swiss prosecutors have dropped the probe into Juan Carlos, ex-King of Spain, being paid $100 million by Saudi Arabia in a bribe for a train contract 

On August 6, 2018, Geneva prosecutors began an investigation into the former monarch, aged 83 years. This was in response to media reports that the ex-monarch had received illegal commissions for the high speed train deal.

In 2011, a Spanish consortium won the contract to construct the high-speed railway link linking Medina with Mecca.

Juan Carlos was able to access a Swiss bank account that Saudi Arabia’s former King Abdullah had deposited $100 million in 2008. This led to suspicions.

Saudi King Abdullah (pictured) paid the money to a Swiss bank account which Juan Carlos had access to

Saudi King Abdullah, (pictured) transferred the funds to a Swiss account Juan Carlos had access too. 

The Geneva prosecutors said their investigation had established that the money had indeed been deposited into an account with Geneva bank Mirabaud & Cie belonging to the Lucum foundation, for which Juan Carlos held the economic rights.

A second investigation revealed that the ex-king had transferred substantial amounts of these funds in 2012 to an account located in Bahamas owned by Corinna Züin-Wittgenstein, a German businesswoman.

Although the prosecutors claimed the complex nature of the transactions, which involved a foundation and several companies, showed a “will to dissimulate”, they said there wasn’t enough evidence for them to continue.

The former king was a pivotal figure in Spain’s democracy transition after the fall of dictator Francisco Franco. He has been under investigation in Spain for his financial transactions.

Spanish prosecutors made an earlier decision to continue with their investigation for another 6 months.

These probes are primarily focused on illegal transactions after 2004’s abdication of the former King and his loss of immunity.

Although he wasn’t charged with any offense, these probes have damaged his image and the reputation of the Spanish monarchy. 

Juan pictured with wife Sofia in January 2018

Felipe pictured with wife Queen Letizia in March 2019

Juan Carlos (right with Sofia), abdicated the throne of disgrace to his son King Felipe in 2014.