Albert II and Nicole Coste. The story of the Prince of Monaco’s secret payments

He notes in his notebooks the alleged excessive spending of Charlene of Monaco…but also the spending of Albert II’s former mistress, Nicole Coste. Claude Palmero, the former manager of the Prince’s estate, was actually subpoenaed in the investigation. world signed by our colleagues Gerard Davet and Fabrice Lohm. Journalists actually obtained five notebooks that belonged to the prince’s former accountant. Notebooks containing the minutest details of Claude Palmero’s actions, as well as Albert II’s responses to his requests. Its registers, in particular, reveal the existence of alleged secret payments made to illegitimate children and to Albert II’s former mistress.

5000 euro “top-up”

In addition to his twins Jacques and Gabriella, who were born in December 2014, the prince did have a daughter, Jazmine Grace Grimaldi, born in 1992 from his relationship with former waitress Tamara Rotolo. But also a son, Alexander Coste Grimaldi, who was born in 2003 from an affair with flight attendant Nicole Coste. And if the two illegitimate children cannot claim the throne, they were officially recognized by their biological father in 2005 and 2006 and may be tied to his inheritance.

According to Claude Palmero’s notebooks, Albert II has since paid substantial sums to his illegitimate children, as well as to Nicole Coste. 2007 in June, in his first notebook, the former accountant expressed regret for the latter’s “excessive expenses” and offered to “write a letter (…) to end it.” As for Jazmine Grimaldi, she would then have been paid $86,000 (€79,000) per quarter. In February 2010, the former property manager also paid her €5,000 for an “extra birthday”.

Apartment in New York

The former accountant also allegedly oversaw the hiring of two Filipino employees on Nicole Coste’s behalf. “I will pay them and I need permission from SAS to reimburse me for the expenses,” he wrote. In February 2017, he also paid 300,000 euros to Albert II’s ex-mistress. He would also acquire an apartment for Jazmine Grace Grimaldi in New York for a modest $3 million (€2.7 million).

Payments that the accountant had to make in secret because Albert II “wanted the greatest secrecy so that this situation would not be known by his wife, Princess Charlene,” explained May Canoud-Bernard, Claude Palmero’s lawyer, in an exchange with colleagues. . in the service of the prince. According to the records of the former accountant, Albert II would also handle insurance against the kidnapping of Alexandre Coste. Claude Palmero, in turn, would set a ceiling on the bank cards allocated to the princely family.

Shop in London

Alexander’s mother, Nicole, would ask the prince to finance her activities as a fashion designer. “We’re trending towards €1 million a year,” the former accountant fumed in 2015. He would also receive €350,000 from Albert II to open a shop in London. And when Nicole Coste asks to be allotted the land, she decides to entrust the ownership to her son Alexandre because she is “afraid of big problems with SAS Charlene in the event of the prince’s ‘death,'” says Claude. Palmero. Albert II will also remain the official employer of the people placed in the service of Nicole Coste.

Second bank account

According to Claude Palmero’s notebooks, the prince has a second bank account called “AG” (“Albert Grimaldi”), which is intended to cover part of Nicole Coste’s lifestyle and finance other personal expenses of the sovereign. Thus, significant sums of money would be transferred from the “AG” account to Gamma and Azur Property companies, behind which Nicole Coste discreetly stands, writes: world -, and of which Her Majesty “obviously knows the application”, writes Claude Palmero’s lawyer.

“Indeed, he (Albert II, editor’s note) ordered it, sometimes against the advice of Mr. Palmero, concerned about the scale of the payments, the money intended for the lifestyle of Ms. Nicole Coste and her son, who is also your director,” Claude Palmero’s lawyer notes. Me Darrois, referring to Alexandre Coste. Notebooks in which Claude Palmero also discusses the quarrels of some of the Grimaldis, as well as the alleged excessive spending of the Princesses of Monaco.

Since his dismissal, the former accountant has been accused of corruption and taking illegal benefits. “I never took a cent,” he countered in the daily columns. This is 100% denial. I am neither corrupt nor a thief (…)” the former property manager, who wants to “restore his honor”, filed a complaint against members of the ruling family at the end of November 2023. He would no longer communicate with Albert II of Monaco, except through lawyers.