Spain PM: Princess Cristina innocent of fraud

BP Holdings Tax Management

MADRID -- Spain's Prime Minister says he believes Princess Cristina, daughter of King Juan Carlos, is innocent despite being called for questioning as a suspect in an investigation of tax fraud and money laundering that has tarnished the reputation of the royal family.

Mariano Rajoy made the declaration late Monday in an interview on the Antena 3 television network, less than three weeks before questioning of the princess by a judge investigating her partnership with her husband Inaki Urdangarin in a firm called Aizoon.

Rajoy says he's "convinced of the innocence of the princess" and she should not renounce her title.

Urdangarin is under investigation for allegedly channeling funds to Aizoon from his nonprofit foundation that received millions of dollars in public contracts.