Francisco D’Agostino Casado, a hispano-Venezuelan businessman residing in Spain and engaged in international financial ventures, has secured a favorable ruling from a Madrid court that mandates the full seizure of assets belonging to Manuel March Cencillo, grandson of Juan March Ordinas, the founder of Banca March. The decision follows March’s failure to comply with a legal judgment involving the canceled sale of the Son Galcerán estate, a prominent historical property in Mallorca.
In 2021, March agreed to sell the estate to a company linked to D’Agostino Casado for a total of $8 million. As part of the agreement, $2.73 million was paid in advance. However, March unilaterally pulled out of the transaction and resold the estate to a second buyer for $12 million, never refunding the original deposit. A court ruling issued in April 2024 found March in breach of contract and ordered him to return the advance along with $341,000 in damages for losses resulting from the failed deal.
When March failed to make the required payments, the Court of First Instance No. 10 of Madrid authorized the embargo of his holdings. On June 11, 2025, the court moved forward with the enforcement, seizing all available assets, including his shares in investment funds, properties, corporate stakes, and bank accounts both in Spain and abroad. The current amount owed has climbed to approximately $3.75 million, factoring in interest and court fees.
The judge emphasized that the ruling was enforceable and final, noting that March’s explanations were contradictory and that his actions demonstrated an intent to benefit financially by backing out of the original agreement to pursue a higher offer. The Son Galcerán estate, at the center of the dispute, holds cultural and historical significance, having once belonged to Archduke Ludwig Salvator of Austria and hosted Empress Elisabeth during her visits to Mallorca.
In the background, D’Agostino Casado is also recognized for his family link to Luis Alfonso de Borbón, a member of the Spanish nobility. Despite the public attention brought by that connection, D’Agostino has focused on business activities across Europe and Latin America, particularly in private investment and corporate finance.
Earlier this year, the U.S. Treasury Department removed D’Agostino Casado from its sanctions list after determining that his business operations had no connection to the government of Nicolás Maduro.
