Karel Mañasco, Former CEO of Mansion Sentenced To 12 Months Jailtime – iGaming Post
Karel Mañasco, the former CEO of Mansion (Gibraltar) Limited, has received a 12-month prison sentence for contempt of court, reflecting a severe breach of legal standards within the gambling industry. This verdict, handed down by the Supreme Court of Gibraltar under the authority of Chief Justice Anthony Dudley, addresses Mañasco’s violation of multiple asset-freezing orders and submission of false statements under oath—crucial issues that threaten the integrity of both the legal framework and the corporate governance of the gambling sector.
The Allegations Against Mañasco
Mañasco’s legal predicaments arise from a significant civil dispute involving his former employer, Mansion Group. The company, in conjunction with Onisac Limited, has levied accusations against him for misappropriating approximately £5 million. Key allegations include:
- Excessive Salaries and Bonuses: Claims alleging that Mañasco awarded himself disproportionately high salaries and bonuses, undermining corporate transparency.
- Unauthorized Transfers: Allegations of dubious financial transactions, including sizable fund transfers lacking proper authorization.
- Luxury Purchases: Accusations of utilizing corporate funds for extravagant personal expenditures, deviating from standard operational practices.
Mañasco has consistently refuted these claims, maintaining that he operated within the scope of his authority as CEO.
The Court’s Findings
Throughout the legal proceedings, the court established that Mañasco had indeed contravened several court orders. Among the most egregious actions was his unauthorized transfer of over £400,000 to an account maintained by his wife in Spain. Furthermore, he submitted a false witness statement that grossly minimized his expenditures by nearly £77,000. Chief Justice Dudley described the £400,000 transfer as a flagrant violation, underscoring its detrimental effects on both the claimants and the overall integrity of the judicial process.
Given the gravity of Mañasco’s actions, the court imposed a 12-month prison sentence. Notably, he may qualify for a six-month reduction if he repays the transferred assets. Additionally, he received a concurrent three-month sentence for the falsified testimony provided to the court.
Chief Justice Dudley emphasized that such legal violations are treated with utmost seriousness, particularly when they compromise the rule of law. This ruling reflects the judiciary’s commitment to upholding the principles that govern both corporate and legal spheres.
Mañasco’s Absence from Court
Mañasco’s failure to appear at multiple court hearings, culminating in the final sentencing session, further aggravated the situation. A bench warrant for his arrest has been issued, signaling the court’s dissatisfaction with his noncompliance. Despite the imposition of the sentence, Mañasco retains the right to appeal the court’s decision within 14 days, without the need for prior permission, thereby prolonging the legal saga that has wide implications for governance in the gambling industry.
This case serves as a stark reminder of the importance of accountability and transparency within the gambling sector, where financial integrity and adherence to legal standards are paramount. The outcome of Mañasco’s appeal will be closely monitored, as it not only affects his future but also sets a precedent for corporate ethical practices in the gambling industry.
