Karel Mañasco, Former CEO of Mansion Sentenced To 12 Months Jailtime

Karel Mañasco, the former CEO of Mansion (Gibraltar) Limited, has been sentenced to a year in prison for contempt of court. This ruling comes after he violated several asset-freezing orders and provided false statements under oath. The Supreme Court of Gibraltar, presided over by Chief Justice Anthony Dudley, delivered the verdict, highlighting the severity of Mañasco’s actions and their implications for the legal system.

The Allegations Against Mañasco

Mañasco’s legal troubles stem from a broader civil dispute involving his former employer, Mansion Group. The company, along with Onisac Limited, has accused him of misappropriating approximately £5 million. Allegations include:

• Excessive Salaries and Bonuses: Claims that Mañasco paid himself unreasonably high salaries and bonuses.
• Unauthorized Transfers: Accusations of making suspicious financial transfers.
• Luxury Purchases: Allegations of using corporate funds to buy luxury items.

Mañasco has consistently denied these allegations, asserting that he acted within the bounds of his authority.

The Court’s Findings

During the proceedings, the court found that Mañasco had breached multiple court orders. Notably, he transferred over £400,000 to an account held by his wife in Spain without authorization. Additionally, he submitted a false witness statement that significantly understated his expenditures by nearly £77,000. Chief Justice Dudley characterized the £400,000 transfer as “egregious,” emphasizing its detrimental impact on both the claimants and the integrity of the judicial system.

In light of the serious nature of Mañasco’s violations, the court imposed a 12-month prison sentence. This sentence includes a potential six-month reduction if he repays the transferred funds. Furthermore, a concurrent three-month sentence was handed down for the false statement he provided.

Chief Justice Dudley underscored that such breaches are not taken lightly, particularly when they undermine the rule of law. The decision reflects the court’s commitment to maintaining the integrity of judicial processes.

Mañasco’s Absence from Court

Mañasco’s absence from multiple court hearings, including the final sentencing session, has raised concerns. A bench warrant has been issued for his arrest, indicating the court’s frustration with his noncompliance. Despite the sentencing, Mañasco retains the right to appeal the court’s decision within 14 days without needing prior permission.