Anyone know anything about why all this financial information about the Grimaldis has suddenly surfaced? Not putting any of them in a good light.
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Claude Palmero, the accountant (official title being Administrator of the Property of the Prince and the Sovereign House) but also a close advisor to Prince Albert for 20 years, was fired last year. Palmero was dismissed due to his alleged collusion in a financial scam. These allegations were published in a document called the ‘Dossiers du Roche’. The origin of the document has not been found but it could be Patrice Pastor, a Monegasque construction entrepreneur with a company worth €30 billion. Palmero wanted to limited Pastor’s control over the real estate transactions.
So it could be a case of Palmero being a spurned former advisor who had a top role within the Principality and now wants revenge. Or it could be that Palmero was discarded after 22 years of service to the House of Grimaldi by a boss he was loyal to after he tried to fight corruption of a more powerful player.
Generally, the information he’s released isn’t too damaging to me - Charlene spends a lot, Albert looks after his love children, Caroline and Stephanie use the jewellery whenever they want. That’s pretty standard. However the potential use of migrant workers and paying them a paltry wage is worrying.
Thank you, that’s very helpful. And interesting.
When you think of Monaco being under the scrutiny of Moneyval, at risk of being put back on the tax haven grey list, all the while all members of the princely family have bank accounts or companies registered iin Panama, the BVI or Switzerland, it’s far from good news.
Daily Mail article:
archive.ph
RICHARD KAY: Is this Prince Albert's secret Monaco love nest just aro…
archived 27 Jan 2024 08:50:56 UTC
The corruption in Monaco is thick. Think of all the Billionaires who reside there. I know this is a very unpopular opinion, yet when I think of Royal families I think of Mafia ie very well organised crime.
I don’t think it’s too unpopular. I reckon Charles and William are worth over a billion each but their money is hidden and so many laws are in favour of them - such as wills being hidden, no need to pay inheritance tax etc.
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There’s a reason Monaco is known as a sunny place for shady people.
I don’t think Monaco will face any big corruption charges which will make them go bankrupt or lose their status - too many rich and powerful people live there to allow it to happen.
I've read a few articles about Palmero's revelations, and to me he comes across as someone who was too enmeshed with his employer, and had a grudge against Charlene for existing and thus messing up his perfectly balanced books.
8.5 staff is not a lot for a woman in her position, especially as this appears to include childcare. The accusations of using illegal workers and paying them a pittance is bad, but surely that's a problem with their HR processes? It's not as though the crown princess of Monaco is wandering the streets picking up people who agree to work for below minimum wage (if they even have such a thing there).
He says she always overspends her £1.2 million annual budget, but she was rumoured to be getting £10 mill a year to stay married, so this sounds like a bargain to me. Plus, if my husband was paying his ex a million a year, I'd be making sure I got a darn sight more than that... Of course, these payments to Nicole Coste were supposedly secret as they came from a bank account in the name "Albert Grimaldi", a code I'm sure no one could crack
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Why does Claude Palmero care anyway? It's not his money, and it's not as though Albert is going to run out any time soon. It just comes across as him believing he had a right to decide how his employer's money was spent.
8.5 staff is not a lot for a woman in her position, especially as this appears to include childcare. The accusations of using illegal workers and paying them a pittance is bad, but surely that's a problem with their HR processes? It's not as though the crown princess of Monaco is wandering the streets picking up people who agree to work for below minimum wage (if they even have such a thing there).
He says she always overspends her £1.2 million annual budget, but she was rumoured to be getting £10 mill a year to stay married, so this sounds like a bargain to me. Plus, if my husband was paying his ex a million a year, I'd be making sure I got a darn sight more than that... Of course, these payments to Nicole Coste were supposedly secret as they came from a bank account in the name "Albert Grimaldi", a code I'm sure no one could crack
.Why does Claude Palmero care anyway? It's not his money, and it's not as though Albert is going to run out any time soon. It just comes across as him believing he had a right to decide how his employer's money was spent.