In Monaco, the figure of Albert of Monaco has always been synonymous with the continuity of the Principality's tradition and his father's legacy. His public life has always made headlines, first for being the most desired bachelor in Europe. However, after ascending to the throne, the nature of the controversies he has been involved in has changed.
Despite everything, Albert of Monaco has been seen as a key figure in the stability of the small but powerful Principality of Monaco. His image has been linked to diplomacy, transparency in his leadership, and control. But when someone from his closest circle says too much, everything can change.
A dismissal with indelible consequences for Albert of Monaco
Claude Palmero was the personal accountant of Albert of Monaco and the Grimaldi family for twenty years. However, in 2023, Palmero was dismissed by Albert of Monaco and it soon became clear that the act was the beginning of something bigger. The Prince argued there were some irregularities in the accountant's management.
Albert of Monaco accused him of breach of trust, theft of documents, and other serious offenses. Palmero replied with notebooks full of details in which he had recorded everything about his meetings with the sovereign. "His Highness wanted there to be not even the slightest written trace and for his assets to be opaque," he told the police.
According to his testimony, the goal was to keep the assets in the shadows. Properties, salaries, and funds went through the accountant's hands to leave no direct trace. He even spoke of a "bachelor apartment" in his name so Charlene wouldn't find out.
A network that implicates more than expected
The revealed documents also put the spotlight on other members of the Grimaldi family, such as Charlene and Carolina. According to Palmero's notes, the expenses of the princess consort exceeded €15 million in just eight years, despite having an official allocation of €1.5 million per year.
Palmero claims he managed funds for people close to Albert of Monaco. Among them, Nicole Coste, mother of one of his children, even paying the woman's employees with Principality funds. He reportedly managed an apartment in London worth €8.5 million through a trust that would have been in effect until January 2025.
Palmero added to the previous statement: "It shows he trusted me, even after dismissing me; this disproves his entire argument." The current financial manager of the palace claims Palmero acted without authorization and accuses him of being an "economic beneficiary" without the prince's knowledge.
A conflict that leaves no one indifferent
Palmero's statements shake the image of the Principality and Albert of Monaco. This raises doubts and conflicting opinions among Monaco's citizens. It is also worth considering that the Principality was added to the European Commission's list of countries at risk of money laundering.
The case, already known as Monacogate, has divided the small country. While some support the prince, others demand total transparency, as he promised it would be when he took the Crown. This conflict exposes a crack in the image of Albert of Monaco, whose authority had seemed beyond all doubt until now.