by The International Consortium of Investigative Journalists
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King of Spain (1975-2014); Crown Prince of Spain (1969-1975)

Juan Carlos I of Spain

Associates in the data: Pilar de Borbón

Related to  Spain
Data from: Panama Papers

Pilar de Borbón

As older sister of former Spanish King Juan Carlos, Pilar de Borbón has parlayed her royal status as Infanta of Spain and Duchess of Badajoz to raise money for charity and pursue her lifelong interest in horses. A former competitive rider of horses trained for fox hunts, she headed the International Equestrian Foundation and served on the International Olympic Committee, helping to block efforts to drop equestrian sports from the 2012 Olympics. She also has managed her family’s business investments; raised money for Nuevo Futuro, a charity for homeless children; and spent two years as president of Europa Nostra, a coalition devoted to protecting Europe’s cultural heritage.

In the data

In August 1974, Pilar de Borbón became president and director of the Panama-registered company Delantera Financiera SA. Mossack Fonseca files revealed that on the same date her husband, Luis Gómez-Acebo, also assumed the role of secretary-treasurer and director of the company. The firm originally had been registered in Panama in May 1969. As of March 1993, neither of them appeared, nor did they ever again, as directors. Since that year, the intermediary representing the undisclosed owner of the company was Madrid-based Gómez-Acebo & Pombo Abogados, a law firm founded by Pilar de Borbón's brother-in-law Ignacio Gómez-Acebo. Before that, London-based Timothy Lloyd had represented the company. In 1993, Lloyd indicated that Pilar de Borbón was the owner of Delantera Financiera SA. Pilar de Borbón's son Bruno Alejandro Gómez-Acebo Borbón became director and treasurer of the company from July 2006 until its dissolution in June 2014.


De Borbón did not respond to ICIJ's repeated requests for comment prior to publication. On April 6, Pilar de Borbón responded in a public statement to Spanish media that she and her husband owned a company in Panama between 1974 and 2014. She said the firm had no revenues “outside the control of local tax authorities” and that it had complied with “any obligation requested by Spanish tax legislation.”
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