March 16 (UPI) -- Spain's King Felipe VI has renounced his personal inheritance from his scandal-plagued father, the former King Juan Carlos I, who's being investigated for accepting illegal kickbacks.
Felipe said Sunday he's also stripping his 82-year-old father of an annual $215,000 stipend as investigators from Spain and Switzerland are looking into the source of funds held by Panamanian-registered foundations tapped in the past by the former king for personal expenses.