MADRID- A Spanish court today said it had formalized charges against Cristina de Borbon, sister of newly-crowned King Felipe VI, and her husband in a corruption investigation, paving the way for a trial that could further damage the royal family.

The Palma de Mallorca court upheld charges of tax fraud and money laundering against Princess Cristina, in one of the last steps before opening trial proceedings.

Her husband Inaki Urdangarin is accused of embezzling several millions of Euros in public funds and a trial would centre on his business dealings.

The rulings - which can be appealed before a trial begins - come barely a week after King Juan Carlos abdicated in favor of his son Felipe, in a bid to revive the monarchy's scandal-worn image at a time of economic hardship.