The Insider Who Knew Too Much!

“I didn’t choose to litigate. I was forced to defend myself.” Karel Manasco, former CEO of Mansion Group

For more than a decade, Karel Manasco was the quiet force behind the global rise of Mansion Group, a name once synonymous with online betting in Europe and Asia. What began as a dream career for the PwC-trained accountant quickly turned into something else: a daily exercise in moral compromise, legal ambiguity and, eventually, self-preservation.

This is not just another exposé of offshore structures or gambling industry tactics. This is the story of a man who tried to play by the rules, only to find that there were none. A man who gave up his job, his income and his reputation to speak out. Knowing full well that the system was set up to silence him.

From Financial Controller to CEO

Manasco joined Mansion Gibraltar in 2010, aged 29. He was young, ambitious and (by all accounts) brilliant with numbers. His early years saw him progress from Group Financial Controller to Head of Finance and by 2012, he was appointed Chief Financial Officer.

But things took a sharp turn that same year.

At the direction of the group’s ultimate beneficial owners (Putera and Kathleen Sampoerna) Manasco was allegedly told to resign and reappear under a different guise. The operation, it turned out, wasn’t just about managing casino finances. It was about structuring and masking a parallel operation entirely.

As Manasco later stated in his affidavit:

“In order to support the illegal B2B gaming business, I was ordered to resign from Mansion and enter into a new employment contract with Apollo Online Consulting Limited… later expanding into Violet Star Group Limited. I was engaged there for over three years.”

The Phantom Companies

These were not ordinary restructurings. According to Manasco’s statement filed with the Supreme Court of Gibraltar, the Apollo-Violet Star shell was built to insulate Mansion Group from direct liability and to enable what he described as “a scam akin to the GVC/Entain operation in Turkey.”

His new position required active involvement in Casino Midas, an online brand allegedly operating unlawfully across France, Austria, Germany and other regulated jurisdictions, while disguised as a separate Curacao-based business.

Behind the scenes, he claims, it was Mansion all along.

“Violet Star’s corporate secretary was Mossack Fonseca, of Panama Papers fame. This was not a coincidence. It was a strategy.”

For years, he worked under the weight of this dual identity. Publicly, he was a consultant. Privately, he remained under the direction of Mansion’s owners. The decision to rejoin Mansion in 2015 came only after pressure from French regulators threatened to unravel the entire B2B structure.

It was, according to Manasco, a forced re-entry designed to shield the business, not support him.

The Human Cost

By now, the lines between personal and professional were fully blurred. Manasco had a family to support. His young children were growing up while he juggled spreadsheets by day and crisis management by night. The demands from senior figures (including Roger Chye, Lawrence Quahe and PO Mak) intensified.

At one point, he says he was instructed to approve payments of $500,000 per month to Kathleen Sampoerna, under the pretence of a “loan agreement” he was never allowed to see.

“Eventually I asked Mak for the document. It never came. Then I asked Mr Block [Christian Block, Mansion executive]. He never delivered it either.”

“I was left to sign off on payments I didn’t believe in. But saying no wasn't an option. Not if I wanted to keep my job or protect my family.”

“Grey Market” or Black?

Much of what Manasco describes goes far beyond regulatory grey zones. In his words, the term “grey” was code for “black”, which was actually a euphemism within Mansion for illegal or unethical activity.

He claims the company engaged in:

• Retagging affiliate links to deny commissions
• Presenting false accounts to avoid taxes in Austria, Germany and Israel
• Defrauding a Canadian jackpot winner of more than $6 million
• And misleading regulators, including the UK Gambling Commission, by disguising links to Mansion Asia (M88)

When asked why he stayed, Manasco doesn’t offer excuses, only context.

“I tried to keep the operation afloat, hoping to steer it in a legal direction. I thought maybe I could contain the damage. But the walls kept closing in.”

The Beginning of the End

His final years were marked by pressure and paranoia. He says that in 2021, long before any public fallout, he suspected Mansion was preparing to replace him. Secret meetings were held. A plan was allegedly set in motion to push him out and shut everything down, not because of losses, but because of what he knew.

“They didn’t just close the company. They burned the evidence.”

In the next article, we’ll examine what happened when Manasco decided not to stay silent and the full retaliation that followed.

Legal Disclaimer

The information presented in this article is based on sworn statements filed by Karel Christian Manasco in the Supreme Court of Gibraltar as part of civil proceedings in Case No. 2022-ORD-074. These statements, including affidavits and amendment applications submitted by Mr Manasco, reflect his personal testimony and allegations.

No conclusions of fact have yet been reached by the court, and all individuals or entities mentioned are presumed innocent unless and until proven otherwise in a court of law. Malta-Media has reviewed these documents in the public interest and makes no independent claims as to the truth of the allegations.

FAQs

Who is Karel Manasco?
Karel Manasco is the former CEO of Mansion Group, an online gambling company. He served in various roles from 2010 until a contentious departure in the early 2020s.

What is Mansion Group?
Mansion Group is an online betting and casino company that operated primarily in Europe and Asia, once known for brands like Casino.com and M88.

What are the core allegations made by Manasco?
Manasco alleges that Mansion Group engaged in illegal offshore operations, financial fraud, and misled regulators through shell companies like Apollo and Violet Star.

What were the “phantom companies” mentioned?
Apollo Online Consulting and Violet Star Group were allegedly used to distance Mansion from direct legal liability while operating in blacklisted markets.

How did Manasco become involved in these entities?
According to his court affidavit, he was instructed to resign from Mansion and reappear under new contracts with these shell entities to support a hidden B2B gaming business.

What was the human cost for Manasco?
He claims the pressure and ethical compromise took a toll on his family life and mental health, especially while trying to protect his livelihood and children.

What illegal activities does Manasco claim the company engaged in?
He alleges tax evasion, retagging affiliate links, defrauding players, and misrepresenting operations to gambling regulators across Europe and Asia.

Why didn’t he leave earlier?
Manasco said he stayed to try and steer the business toward legality and to provide for his family, despite increasing internal pressure and fear.

What is the current legal status of these allegations?
The case is ongoing in the Supreme Court of Gibraltar. No final rulings have been made, and all parties are presumed innocent until proven guilty.

Will there be more revelations?
Yes, a follow-up article is expected to cover the aftermath and retaliation Manasco faced after choosing to speak out.