Monaco, a sun-washed microstate on the Mediterranean, is rocked by allegations of corruption and exorbitant spending.
Welcome to Whale Hunting, a weekly newsletter delving into the hidden worlds of wealth and power from the team at Project Brazen. This week we have a story that's been on our minds for years. Clara peels back the layers around Monaco, the vaunted and haughty bolthole for the super-rich. Catch up on all Project Brazen's work here, including Spy Valley (Tribeca Film Festival "Official Selection 2023"), our Gateway podcast about Europe's drug wars and The Closer, all about how deals change the world.
By Clara Preve-Durrieu
Monaco has thrived on its reputation as the ultimate bolthole for the super-rich. The sun-washed microstate is now flanked by a slew of high-priced, high-security buildings that dot the French Riviera. Its ruler is the only son of the film star Grace Kelly and Prince Rainier, Albert Alexandre Louis Pierre Grimaldi – simply known as Prince Albert II.
The Lilliputian principality might easily slip through the fingers of international regulations, but leaked emails and documents from an anonymous Substack called “Les Dossiers du Rocher” has peeled back the secrecy on some of Prince Albert's most trusted advisors.
This messy affair took another fascinating turn when the accused spilled the beans on the lavish spending habits of Monaco's ruling family.
The leaks implicate members of Prince Albert’s inner circle, known as the “G4” – Didier Linotte, president of the Supreme Court; Thierry Lacoste, the prince’s lawyer and childhood friend; Laurent Anselmi, director of Judicial Services; and Claude Palmero, the palace’s accountant.
It all began when the G4, in addition to their official posts, started dabbling in Monaco’s real estate business, which they decried as a monopoly dominated by the billionaire property developer Patrice Pastor.
This is a post for subscribers to Whale Hunting, where every week you get multiple insights into the hidden worlds of money and power.
