Insider Reveals Lavish Spending of Monaco Royals: €600k Used to Settle Overdraft
After being dismissed from his role as the principal asset manager for the House of Grimaldi, Claude Palmero has come forward with shocking revelations about the extravagant expenditures of the Monaco royals. With over 22 years of handling their finances, Palmero has shared jaw-dropping details with the French media, shedding light on the opulent lifestyle of one of Europe's most glamorous royal families.
Palmero, who is currently suing for €1m, has not only exposed their lavish spending but has also provided five black notebooks filled with intricate accounts of the family's financial transactions. These revelations have caused quite a stir, even in a playground for the super-rich like Monaco.
One of the most sensational revelations from the notebooks is the spending habits of Prince Albert II's wife, Princess Charlene. The records show that she receives an annual allowance of approximately €1.5m, and Palmero noted that she had spent around €15m in the past eight years. It is also revealed that Prince Albert routinely tops up his wife's allowance, including a one-off payment of €200,000 in 2020.
However, Palmero did exercise some caution when it came to certain expenses. He advised against purchasing a catamaran and objected to the high cost of office renovations and villa rentals. The notebooks also shed light on the financial support provided to Albert's sisters, Stéphanie and Caroline, who receive annual allowances of €800,000 and €900,000 respectively.
The revelations don't stop there. The notebooks detail the palace's purchase of a €3m apartment in New York for Jazmin Grace Grimaldi, Prince Albert's daughter from a previous relationship. They also mention quarterly allowances of $86,000 for Jazmin and kidnap and ransom insurance for Alexandre Grimaldi-Coste, another child from Albert's past relationship.
The notebooks further expose the existence of "special funds" allocated for secret missions and parallel activities, including payments to a police officer for information and the retrieval of compromising photos. However, Albert's lawyer has denied any knowledge or approval of these funds.
As for Palmero, he vehemently denies any wrongdoing and claims that he never took any money for himself. He insists that the accusations made against him by the royal family are unjust and that he served them faithfully for two decades.
The shocking revelations have sparked widespread interest, with people eager to learn more about the extravagant lifestyles of the Monaco royals. The most searched keywords related to this topic include: Monaco royals, Monaco, Prince Albert II, Princess Charlene, lavish spending, Claude Palmero.
News Agencies