The date marks the moment when Juan Carlos passed on the throne to his son,who became King Felipe VI. By abdicating after nearly four decades on the throne,Juan Carlos lost the protection granted by the constitution to the head of state.
The statement said the probe was of"undeniable technical complexity".
Allegations of impropriety related to a €6.7 billion ($10.8 billion) contract for a Spanish consortium to build a high-speed railway from Medina to Mecca were previously examined by a lower court in Spain,which ruled out investigating the former king as it argued that any possible involvement had been prior to his abdication.
In March,afterThe Telegraph had revealed that Juan Carlos and King Felipe were both named as the beneficiaries of a Panama-based fund started in 2008 with the $US100 million"donation"from late Saudi king Abdullah,Spain's royal household released an unprecedented statement in whichFelipe VI said he renounced any financial inheritance from his father. In the same statement,Juan Carlos said he had chosen a lawyer to"exercise his right to a defence".
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The investigation centres on the Panama-based Lucum Foundation and the possibility that the money given to Juan Carlos may have had some relation with the train project,even though the consortium led by 12 Spanish companies and two Saudi firms did not win the deal until late 2011.