Spanish king distances himself from scandal-hit father

King Felipe VI of Spain moved Sunday to distance himself from his scandal-hit father, stripping him of his palace allowance and renouncing what he was due to inherit from him.

The announcement came after reports earlier this month in the Swiss daily Tribune de Geneve that former monarch Juan Carlos had received 100 million dollars (90 million euros) from Saudi Arabia via an offshore account.

The money was lodged in a Swiss bank account in the name of a Panamanian foundation, the paper reported, according to which $65 million of that sum was given by Juan Carlos to his former mistress, Corinna zu Sayn-Wittgenstein.

A later report in Britain's Daily Telegraph said that 52-year-old King Felipe was also a beneficiary of the fund, which it said had been set up when Juan Carlos was still on the throne.

In the palace statement released Sunday, the reigning king said that in April he had made it clear to a notary that he would accept no money from the foundation in question.