The King of Spain's sister, Cristina de Borbón, has been acquitted of the criminal charges against her in the Nóos case.
Her husband Iñaki Urdangarin has been handed a prison sentence of six years and three months.
The tribunal considered there was no evidence to prove that Cristina de Borbón actively cooperated in the tax fraud committed by her husband through the firm Aizoon that the couple owned between them.
Urdangarin has been found guilty of embezzlement, corrupt practice, fraud, influence peddling and tax offences.
His former business partner, Diego Torres, has been handed a prison sentence of eight years and six months.
The former president of the Balearic government, Jaume Matas, has been given three years and eight months.
While acquitted of the criminal charges against her, the royal sister has been sentenced to pay a fine of 265,088 euros for civil responsibility having benefitted financially from the fraud.
The sentence comes eleven years and one day after that 16 February 2006, when the Socialist MP Antoni Diéguez denounced in the Balearic parliament the high cost of the commissions granted directly to the Instituto Nóos by the regional government led then by Jaume Matas.
This sparked an investigation that ended up with the sister of King Felipe and her husband Iñaki Urdangarin on trial in the provincial court in Palma de Mallorca, along with another 15 defendants.
All of them were accused of having formed part of or cooperated with a corrupt network that channelled off around six million euros of public funds from the governments of Balearics and Valencia into private hands through overinflated contracts for the organisation of business and sports events.
The tribunal formed by three magistrates, headed by Samantha Romero, has worked in secret on the sentence since the trial ended on 22 June last year, after five months and eleven days in court. The sentence itself fills several hundred pages.
The judges had been given until 31 March to deliver their verdict.