Financial Crime World

Monaco Banking Scandal Exposed: Prince Albert II’s Secret Notebooks at Center of Controversy

Geneva, January 25, 2024 - A Shocking Turn of Events

The Monaco royal family is embroiled in a banking industry scandal that has left international observers stunned. At the center of the controversy are secret notebooks belonging to Claude Palmero, Prince Albert II’s former éminence grise and accountant.

The Notebooks: What Do They Contain?

According to sources close to the investigation, the notebooks date back to 2005 and contain hundreds of interviews with the prince and other high-ranking officials. These sensitive documents have left concerns about the security of Prince Albert II’s financial assets, which are believed to be sheltered in offshore companies based in Panama and the British Virgin Islands.

The Scandal Deepens

Palmero was dismissed by Prince Albert II in June 2023 after it was discovered that his former advisor had been privy to all of the princely family’s secrets. This has led to concerns about the security of the prince’s financial assets, which are believed to be worth approximately €250 million.

The Network: How Did It Work?

The Swiss-Panamanian network designed by Palmero and the Grimaldi family was used to launder money and evade taxes. Its existence has raised concerns about Prince Albert II’s involvement in illegal activities. The network is said to have been created to protect the prince’s fortune from taxation and financial scrutiny.

Consequences for Monaco

The Monaco government has declined to comment on the allegations, but insiders suggest that the controversy could have serious political and fiscal consequences for the principality.

What’s Next?

As the investigation continues, international observers are left wondering how much more is yet to be uncovered about Prince Albert II’s financial dealings. The scandal has raised questions about the prince’s involvement in illegal activities and has cast a shadow over the Monaco royal family’s reputation.

Key Points

  • Secret notebooks belonging to Claude Palmero, Prince Albert II’s former éminence grise and accountant, contain sensitive information about the prince’s financial dealings.
  • The notebooks date back to 2005 and contain hundreds of interviews with the prince and other high-ranking officials.
  • Prince Albert II was granted a rare privilege by REYL bank in Geneva, allowing him access to a safe deposit box with no vault.
  • The Swiss-Panamanian network designed by Palmero and the Grimaldi family is worth approximately €250 million and was used to launder money and evade taxes.
  • The Monaco government has declined to comment on the allegations, but insiders suggest that the controversy could have serious political and fiscal consequences for the principality.