Prince Albert of Monaco is embroiled in a significant scandal following a bitter fallout with his former financial advisor, Claude Palmero. Palmero, who had managed the royal family’s finances for over 20 years, was dismissed in 2023 after being implicated by a mysterious anti-corruption website, “Les Dossiers du Rocher,” which accused him and others close to Albert of engaging in corrupt practices. The situation escalated when Palmero’s private notebooks, reportedly detailing the royal family’s lavish spending, including Princess Charlene’s alleged excessive spending, were leaked to the media.
The controversy took another turn recently when Palmero was arrested and questioned by police after Prince Albert filed a lawsuit accusing him of “breach of confidentiality, invasion of privacy, and receiving the proceeds of two offenses.” Although Palmero was released without charges, the investigation is ongoing.
Palmero, whose father also served the royal family, has denied all allegations of wrongdoing and vowed to clear his name, even expressing a desire to return to his former role. His lawyer claims the accusations are part of a smear campaign and insists that Palmero has always acted with integrity.
The leaked notebooks purportedly reveal details about the royal family’s finances, including significant payments made to Albert’s love children, Jazmin Grimaldi and Alexandre Coste-Grimaldi, as well as Princess Charlene’s alleged extravagant spending. According to the notes, Charlene received an annual allowance of £1.2 million but frequently overspent, prompting concerns from the palace’s accountant.
The scandal has also raised questions about staff employed by Princess Charlene, with accusations that some of her nannies and domestic workers were illegal immigrants. Palmero’s notebooks claim that these employees were paid exorbitant wages, further complicating the royal family’s financial image.
Palmero’s dismissal and the subsequent lawsuit have led to a deep rift between him and Prince Albert, who initially stood by his longtime advisor before abruptly severing ties. The fallout has raised broader concerns about transparency and governance in the wealthy Mediterranean principality, as authorities continue to investigate the source of the leaks and the allegations of corruption surrounding the palace.
