RCW with Spanish outcome?

Let's say the Whites win in late 1918 or early 1919 and establish some sort of military junta. The Romanovs are in British exile. But the junta doesn't want any part of an immediate constitutional restoration... instead they do what Franco did. Wait a few years and then declare themselves as "regents" with a handover to be undertaken at some point in the distant future.

Plausible?
 
I can't see the reimposition of any sort of Czarist identity going over well. The Czar had effectively 0% approval ratings by the time he was done, the fact that a lot of Whites were supporters of the monarchy did not do them any favors with the Russian population.
 
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