NEWS REVEW SPECIAL: MONACO CORRUPTION PACT
Conspirators in Corruption: Claude Palmero & Thierry Lacoste
“Sea bathing, sex, and the scent of corruption: the inside story of a state scandal in Monaco” (Nice-Matin)
Encapsulation:
A massive corruption scandal is unraveling at the heart of the Principality of Monaco, exposing a sordid intersection of sex, power, real estate, and royal influence.
At its center is the Esplanade des Pêcheurs development—a $100K-per-square-meter dream —where three of Prince Albert II’s once-closest allies allegedly traded influence with real estate tycoon Antonio Caroli in exchange for insider deals, cushy positions—and a chalet full of women.
Analysis:
What began as a legal and financial dispute between rival developers (Caroli vs. Pastor) over a beachfront mega-project spiraled into a full-blown scandal implicating palace insiders: Claude Palmero (royal property manager), Thierry Lacoste (Prince’s personal lawyer), and Laurent Anselmi (chief of staff).
These men formed a cabal—nicknamed “the clan”—to push legislation favoring Caroli in return for favors, including orchestrating Stéphane Valeri’s appointment to the powerful Société des Bains de Mer (SBM).
The pièce de résistance? Text messages referencing a “chalet with girls in it” and exchanges that sound more like mafia code than public service.
Bottom Line:
Monaco’s glamorous image—yachts, casinos, Grand Prix—is again marred by what appears to be deeply embedded systemic corruption at the highest level.
This isn’t just a rogue deal or a sloppy cover-up—it’s a blueprint for institutional rot.
The scandal further erodes confidence in Prince Albert’s leadership.