Joshua Goldman
Joshua Goldman
min read · June 13, 2025 · Entertainment

Prince Albert's Hidden Life: Bachelor Pads and Illegitimate Families Exposed

Police transcripts with Prince Albert of Monaco's former trusted advisor have revealed the latest in a bitter fallout between the royal and his once right-hand-man. Albert pictured with his wife Princess Charlene last year

ROYAL SCANDAL ROCKS MONACO: Prince Albert's Trusted Advisor Spills Secrets

The palace of Monaco is reeling from a scandal that threatens to expose the darkest secrets of its royal family. Claude Palmero, former trusted advisor to Prince Albert II, has revealed explosive details about the monarch's personal life and alleged financial improprieties in a bombshell interview with police transcripts.

Palmero, 68, was once the right-hand man of Prince Albert, handling the family's vast fortune and properties, including their iconic palace. But things took a dramatic turn when Palmero was suddenly fired by the prince in June 2023 after being targeted by an anonymous anti-corruption website.

Claude Palermo (pictured), 68, looked after the family's money (including their investments, their properties and the main palace) from 2001 to 2023, just as his father, André, had done for Prince Rainier III of Monaco two decades before him

In the wake of his dismissal, Palmero's "secret notebooks" were leaked to French newspapers Le Monde and Libération, revealing shocking details about Prince Albert's lavish spending on mistresses and illegitimate children. The scandal has sent shockwaves through Monaco, casting a dark shadow over the usually tranquil principality.

Palmero's explosive revelations include claims that Prince Albert spends millions every year from a secret French bank account to finance his former mistresses and love children. Jazmin Grimaldi, 31, receives £344,000 a year, while Alexandre Coste-Grimaldi, 20, gets £73,000 every three months.

The scandal also implicates Prince Albert's wife, Princess Charlene, who allegedly has a personal spending allowance of over £1 million per year. The princess has been accused of hiring illegal immigrants as nannies for her twins, Prince Jacques and Princess Gabriella.

In his conversations with the police, as per Le Monde, Palmero claimed that himself and Albert's childhood friend and lawyer Thierry Lacoste, who was also dismissed, 'handled' matters in regards to Alexandre's mother Nicole Coste (left), including the birth and recognition of their son (centre)

Palmero claims that he was tasked with handling the salaries of Alexandre's mother, Nicole Coste, including covering expenses like accommodation and dismissals. He also alleges that Prince Albert created a trust to purchase a luxury London apartment worth £6.5 million for Nicole in 2010.

The scandal has sparked outrage among Monegasques, who are demanding accountability from their royal family. The case has been dubbed "Monacogate" by Le Monde, and it's set to be one of the most explosive scandals to rock Monaco since the reign of Prince Rainier III.

In his police interview, Palmero denied allegations that he embezzled funds and claimed that Prince Albert was trying to harm and harass him with "absurd and slanderous complaints." He also insisted that he was a victim of the prince's smear campaign.

Prince Albert II of Monaco pictured with his daughter Jazmin at the 2020 Hollywood For The Global Ocean Gala

The fallout from Monacogate has left many wondering how the usually stoic Prince Albert can continue to govern Monaco with such scandal swirling around him. The prince has denied all allegations, but the public is demanding answers and accountability from their royal family.

As the scandal continues to unfold, one thing is certain: the once-peaceful principality of Monaco will never be the same again.

Nicole (right with Albert) was allegedly on track to cost the monarch 'nearly $1million a year', reports claimed

Jazmin's mother Tamara, then a waitress, had a fling with the monarch back in 1991, while on holiday (pictured together in the same year).

Prince Albert and Jazmin watch the Monte-Carlo ATP Masters Series Tournament on April 19, 2018 in Monaco

Prince Albert, who took over the reins of the principality following his father Prince Rainier III's death in 2005, sacked his trusted financial adviser in June 2023. Pictured with his wife this month

Albert initially stood by his close confidants, but later began distancing himself from them. Then in June, Albert sacked Palmero and Anselmi, and again publicly played down associations with Lacoste, his lawyer and childhood friend, and Linotte. Pictured with Charlene in April

Prince Albert and Princess Charlene, pictured on their wedding day in 2011, tied the knot 14 years ago

The entries in Palermo's notebooks seem to suggest that Prince Albert's chaotic personal life has drained his riches. Albert and Charlene in 2010

In December 2014, Charlene gave birth to twins, Prince Jacques and Princess Gabriella. The family pictured in November