Former Mansion Group CEO Sentenced to 12 Months in Prison
The Supreme Court of Gibraltar has sentenced former Mansion Group CEO Karel Manasco to 12 months in prison for failing to appear at hearings and contempt of court.
Reasons for the Sentence
Karel Manasco was found guilty of the following offenses:
- Violating a court order on asset disposition;
- Giving false testimony under oath;
- Ignoring bail conditions and court hearings.
He was sentenced in a case brought by Mansion (Gibraltar) Limited and Onisac Limited after he transferred over £400,000 to his wife’s account in Spain — bypassing a court-imposed asset freeze.
Financial Violations
The court found that Manasco:
- Breached a weekly spending cap imposed by the court;
- Provided false information under oath, understating expenses by nearly £77,000;
- Failed to comply with a global asset freeze order.
According to the judge, these actions harmed not only the claimants but also undermined trust in the justice system.
Proceedings and Manasco’s Conduct
Manasco repeatedly failed to appear in court, including on April 9 and May 14. Despite the arrest warrant, the court proceeded in his absence and delivered the sentence based on evidence and statements from his representatives.
Sentence
Judge Dudley imposed concurrent prison terms on Manasco:
| Offense | Term | Condition for Mitigation |
|---|---|---|
| False testimony under oath | 3 months | None |
| Violation of court order | 12 months | 6 months may be remitted upon return of £400,000 |
Court Comments
The judge emphasized that court orders must be obeyed, regardless of personal disagreements.
He also noted that Manasco’s previously unblemished reputation was taken into account, but was not grounds for a suspended sentence due to the severity of the charges and his persistent disregard for the court.
Appeal
Manasco’s defense has declared its intent to appeal the verdict. By law, he may file an appeal within 14 days without needing the court’s permission.