Prince Albert II of Monaco's Former Accountant Makes Bombshell Revelations

Almost every year, Prince Albert II of Monaco makes headlines for a series of controversies, it's either on his supposed rocky marriage with Princess Charlene, or a new paternity suit.

This month, just as another year started, he is hugging headlines again with a new controversy revealed by his former accountant.

This new controversy comes just as Prince Albert and Princess Charlene's marriage is navigating in peaceful water and Princess Charlene is seen having a close relationship with her husband's family.

Prince Albert II financial controversies

the Sovereign Prince's couple appeared in the palace balcony

New controversies on Monegasque royal couple

The controversies began when the palace's former accountant, Claude Palmero, shared sensitive information about the secret financial spending of Prince Albert II.

Palmero alleged that Prince Albert II kept a separate bank account to pay his former mistress (believed to be Nicole Coste, the mother of his illegitimate son, Alexandre), and children out of wedlock (Jazmin Grace and Alexandre).

Prince Albert and Princess Charlene attend church service for Saint Devote celebration

In another bombshell revelation, he alleged that Princess Charlene hired illegal migrants for less than £90 a day while her personal spending allowance rocketed to more than £1million-a-year.

Mr Palmero, 67, spent more than two decades as Prince Albert II's accountant. He was in charge of palace finances of the Palace of Monaco before he was dismissed from his job last year. Something royal observers believed had fueled Palmero to reveal sensitive financial information about the Monegasque royals.

Princess Charlene's alleged overspending

According to Mr. Palmero's notes, Princess Charlene spent four months in a hospital in 2021 for "deep fatigue" and was routinely given an allowance of around £1.2 million a year - but still managed to overspend.

In 2017, she reportedly needed more than £500,000 to pay off a substantial overdraft. Two years later, the speed at which Princess Charlene apparently burned through money so worried the Prince's accountant that he wrote in his notes: "It's crazy! I have no control over the Princess' spending".

According to Palmero, Princess Charlene poured nearly £2 million into renovating a holiday house in Corsica and redecorating her office.

He also claimed she rented another house on the French island where she spent time apart from Prince Albert. Palmero's notes also show that in April 2016, she asked for £60,000.

The Sovereign Prince's family attends the Grand Parade and Open Air Circus

On another occasion, in 2020, the former accountant recorded a one-off payment to Charlene from Albert of £171,000, plus £4,200 in cash. In 2019, Palmero estimated Charlene had spent about £12.8million since marrying Albert in 2011.

Meanwhile, Charlene's family, in particular her brother Sean with whom she runs her foundation, were also benefiting from Prince Albert's wealth, with Sean receiving £786,000 to buy a house in 2022. He now runs a coffee shop in Monaco.

According to Le Monde, Prince Albert's illegitimate daughter, Jazmin Grace Grimaldi, 31, receives £73,000 every three months - despite not being part of the royal family.

Palmero noted she was given £4,200 for her 18th and a flat in New York worth £2.6 million seven years later. He also noted that the palace was paying for kidnap and ransom insurance for Alexandre, 20, Albert's son with former flight attendant, Nicole Coste.

The entries in Palmero's notebooks seem to suggest that Prince Albert's chaotic personal life, especially his wife, has drained his riches.

Princess Stephanie, Prince Albert, Princess Charlene, Camille Gottlieb

Prince Albert and Princess Charlene at The Fight Aids Cup

The Prince's Palace of Monaco has not responded to the allegations and Prince Albert seems unbothered by his former accountant's indiscretion as he and Princess Charlene continued to attend a series of public events in the wake of the allegations.

A week ago, they both attended, with Princess Stephanie and her daughter Camille Gottlieb, The Fight Aids Cup. where Princess Charlene and Princess Stephanie were seen hugging during the toss-up.

Princess Charlene and Princess Stephanie at the Fight Aids Cup

Princess Charlene celebrated her 46th birthday on January 25, and the Prince's Palace released photos related to the celebration. She was joined by Prince Albert and their twins, Prince Jacques and Princess Gabriella gazing at her birthday cake.

The Sovereign Prince's family celebrates Princess Charlene's birthday

The Monegasque royals also took part in the traditional burning of the boat during the Saint Devote Festivities and attended the church service in the cathedral.

The Sovereign Prince and his wife made a balcony appearance in the Prince's Palace to greet the crowd below who gathered for the celebration.

The Sovereign Prince's family at the traditional burning of boat

The Sovereign Prince's family at the burning of the boat

The Palace of Monaco began 2024 with a busy calendar for Prince Albert II and Princess Charlene and looks like no time to respond to their former accountant's explosive revelations of palace secrets.