Former Mansion CEO Faces Arrest After Skipping Sentencing Hearing in Gibraltar
An arrest warrant has been issued for Karel Manasco, the former CEO of Mansion Group, after he failed to appear for a contempt of court sentencing. Manasco is also accused of embezzling millions from the company through suspicious payments and unauthorized bonuses.
Sentencing Delayed After No-Show in Court
Karel Manasco was due to be sentenced on April 9 in Gibraltar for contempt of court, but his failure to appear prompted the court to issue an arrest warrant. The contempt charge stems from alleged breaches of a court-ordered asset freeze. The sentencing has been postponed until May 14.
Manasco’s legal team has argued that the trial process has been biased. They claimed that Chief Justice Dudley acted unfairly and that media coverage by the Gibraltar Broadcasting Corporation was prejudiced. They also alleged that Mansion Group and the Gibraltar Regulatory Authority conspired against the former executive.
Allegations of Embezzlement
The broader legal case concerns accusations that Manasco embezzled significant funds from Mansion Group during his time as CEO. Prosecutors have pointed to 14 invoices issued between August 2018 and June 2019, amounting to €2.5 million, paid to a company called White Wizard Media Ltd (WWML).
According to Mansion Group, WWML provided no actual services, and the funds were allegedly redirected to offshore accounts under Manasco’s control. An additional payment of £127,073 to a separate consultancy firm is also being investigated.
In February 2024, the court froze £5 million in assets belonging to Manasco after hearing claims that he had awarded himself unauthorized bonuses.
Court-Ordered Repayments
In September 2024, the Supreme Court of Gibraltar ordered Manasco to repay Mansion Group €2.5 million and £127,073. The ongoing contempt proceedings are directly linked to this ruling, which Manasco is accused of ignoring.
Once a prominent operator with a presence in multiple jurisdictions, Mansion Group began scaling back operations in 2020. That year, the company shut down its MansionBet brand amid internal management disputes and an investigation by the UK Gambling Commission.
By January 2023, Mansion had closed all of its Great Britain-facing brands. It continued to operate in Spain and Ontario until October 2023, when it exited all B2C markets.