In a development that has rocked the Principality’s corridors of power, the new administrator of the Monegasque Crown Property, Salim Zeghdar, was held in police custody for over 12 hours on Wednesday, alongside four palace carabinieri, Monaco Matin reveals. This marks the latest twist in a series of legal entanglements surrounding the management of HSH Prince Albert’s estates.
Just last week, former Crown Property administrator Claude Palmero, who was dismissed in June, 2023 after more than 20 years of service, was also questioned by authorities. Palmero, facing multiple legal challenges including two complaints from the princely family itself, is accused of abusing trust, exerting undue influence, and potentially embezzling assets—though he has yet to be formally charged. These accusations stem from an audit ordered by Zeghdar, Palmero’s successor, and carried out with the help of Swiss firm Alvarez and palace security.
However, this investigation has sparked its own controversy. Erwan Grimaud, founder of drone company MC Clic, who is suspected of providing surveillance equipment for Palmero, reported “spooky” methods to the public prosecutor while in custody, leading to a new judicial investigation into potential “abuse of authority,” “attack on liberty,” and even “kidnapping.” This report has now broadened the investigation, which included this week’s detainment of Zeghdar and the carabinieri, among them Commander Martial Pied.
Sources close to the palace describe Zeghdar’s actions as part of a standard internal audit, necessary to uncover the truth about Palmero’s tenure. They argue that the carabinieri, acting under the guidance of the Public Prosecutor’s Office, were ensuring the legality of their operations, with all procedures allegedly documented and conducted within legal boundaries. Lawyers for Zeghdar, Cyril Bonan and Thomas Giaccardi, assert that their client acted lawfully, refuting any claims of coercion.
Featured image by Jack Brodie
