Former Mansion CEO Karel Mañasco jailed for contempt of court in Gibraltar

Karel Mañasco, the former chief executive of Mansion (Gibraltar) Limited, has been sentenced to 12 months in prison for contempt of court after breaching multiple asset-freezing orders and submitting false statements under oath, the Supreme Court of Gibraltar said last week.

Chief Justice Anthony Dudley ruled that Mañasco, 44, had committed serious violations of court undertakings, including the unauthorised transfer of more than £400,000 ($534,437) to an account held by his wife in Spain, and the submission of a false witness statement that understated his spending by nearly £77,000 ($102,879).

Some of the breaches were so serious that only a custodial sentence would suffice, Dudley said during sentencing. He described the £400,000 transfer as “egregious” and damaging not only to the claimants but also to the rule of law and administration of justice.

The court imposed a 12-month prison term, with a possible six-month remission if Mañasco repays the transferred sum. A three-month sentence for the false statement will run concurrently.

The contempt ruling stems from a broader civil dispute between Mañasco and his former employer, Mansion Group, which, along with Onisac Limited, accuses him of misappropriating around £5 million. The company alleges he breached his fiduciary duties by paying himself excessive salaries and bonuses, authorising suspicious transfers, and purchasing luxury goods with corporate funds. Mañasco denies the allegations.

Mañasco has failed to appear at multiple court hearings, including the final sentencing session. A bench warrant has been issued for his arrest. He retains the right to appeal within 14 days without seeking the court’s permission.