The Money, The Lies, The Exit!

“You don’t shut down a growing business overnight unless you’re hiding something.” Karel Manasco

By the time Karel Manasco was pushed out of Mansion Group, he claims the business was paying its billionaire owners over half a million dollars per month in direct cash transfers. At the same time, he was fighting to keep it afloat, managing teams across Europe, dodging regulatory inquiries and trying to prevent a second public scandal.

This wasn’t a man running from failure. It was someone surrounded by success, then abruptly cut out of it.

In this final part of the series, we look at where the money went, who allegedly benefited and how a system designed for growth became a strategy for evasion.

Cash to the Top

According to sworn court statements, Manasco was ordered to transfer $550,000 per month from Mansion Gibraltar to Kathleen C. Liem Sampoerna under what was described as a “loan agreement.”

No such agreement, he claims, was ever produced.

“I asked repeatedly for a copy of this so-called loan. Nothing came. Not from PO Mak, not from Mr Block, not from the accountants. But the money kept going out.”

Between 2017 and 2021, these transfers totalled more than $16 million. There were no dividend declarations, no board votes and no formal justification. Just an instruction, passed through intermediaries, to keep the money flowing.

“Owners using their residual powers to personally benefit can be prosecuted for stealing from their own companies. That’s not my opinion. That’s corporate law.”

Affiliates, Retagging and the Art of Deception

It wasn’t just internal payments that raised concern. According to Manasco, Mansion engaged in “retagging” affiliate accounts, a practice whereby commission-earning players were swapped or reassigned to reduce payouts.

“It was fraud, plain and simple. You can’t change the terms after someone has sent you traffic. But that’s what we did. And it started long before I arrived.”

He says the practice was portrayed internally as “industry standard,” but he later came to understand it was not lawful, nor accepted among regulated operators.

“We told ourselves everyone was doing it. But everyone wasn’t. And the ones who were usually got caught.”

Manasco says these methods helped keep Mansion’s books clean enough to remain appealing to regulators, until they didn’t.

The Jackpot That Never Came

One of the most disturbing episodes outlined in Manasco’s legal filings involves a Canadian player who won a progressive jackpot exceeding $12 million. The money, funded by Playtech, was already in Mansion’s accounts, ready to be paid out.

But that didn’t happen.

“She was told it would take up to 30 years to release her winnings unless she agreed to a deal. It was a lie. The money was there. They just wanted to keep half of it.”

Manasco attributes this strategy to Mansion’s relationship with WWML, the marketing agency that handled high-value accounts. He says he passed the matter to Mak and was told to move forward with the negotiation. Eventually, half of the winnings ($6 million) were allegedly siphoned to the Sampoernas’ account.

“It wasn’t just a breach of contract. It was a theft from the player. From Playtech. From the public.”

When the Truth Becomes a Threat

Throughout his testimony, Manasco outlines a pattern: once employees started questioning these practices, they were removed. Former CEO Sagi Lahav was allegedly pushed out after refusing to participate in falsified accounting for German and Austrian tax filings.

Manasco believes he was next.

“They got rid of Sagi when he refused to play along. They got rid of me when I started asking for documents. When you’re the last person in the room who knows the truth, you become a liability.”

He says the decision to shut down Mansion’s operations (in Spain, Canada, Bulgaria, Gibraltar and the UK) had nothing to do with losses.

“The business was growing. The customer base was up. The financials were improving. What changed was the risk. They feared exposure: to regulators, to tax authorities, to courts.”

A System That Looks the Other Way

Despite the volume of allegations (tax evasion, fraudulent contracts, jackpot manipulation, affiliate theft and unlicensed B2B gaming) Gibraltar’s Gaming Commissioner has not launched a public investigation. Nor has the Data Commissioner addressed Manasco’s complaints.

“Everyone seems to be hoping this fades. But it’s not going away. Not when people have lost money. Not when I’m still being sued.”

He closes his final statement with a pointed remark:

“They may have erased the company. They may have tried to erase me. But the documents still exist. And now, so does the record.”

FAQs

What financial irregularities does the article allege at Mansion Group?
The article alleges that Mansion Group made unauthorized monthly cash transfers, including a “loan” of $550,000 that lacked formal documentation, totaling over $16 million in unapproved payments.

Who is Karel Manasco and why is he central to this story?
Karel Manasco, a former executive at Mansion Group, is the whistleblower who provided sworn court testimony claiming that the company engaged in fraudulent practices and misdirected funds for personal benefit.

What is the significance of the $550,000 monthly transfer?
According to Manasco’s statements, this payment was used to channel funds to Kathleen C. Liem Sampoerna under a purported loan agreement that never materialized, raising serious questions about the legitimacy of the transaction.

Can you explain the concept of ‘retagging' as mentioned in the article?
‘Retagging' refers to the practice of reassigning commission-earning affiliate accounts to reduce payout amounts. Manasco described this practice as both fraudulent and against regulatory norms, despite its portrayal as “industry standard” internally.

What happened with the Canadian player’s progressive jackpot?
A Canadian player won a jackpot of over $12 million, yet the payout was delayed under false pretenses. The player was misled with a 30-year wait and eventually had half of the winnings allegedly diverted into other accounts.

How do these practices impact shareholders and customers?
The alleged misappropriation of funds and fraudulent accounting not only undermines corporate governance but may result in significant financial losses for both shareholders and players expecting fair gaming practices.

What legal actions are mentioned or implied in the article?
The article references sworn statements provided in the Supreme Court of Gibraltar and ongoing civil proceedings, highlighting that corporate law may eventually address the misappropriation of funds as theft.

Which regulators or authorities are mentioned in connection with these issues?
The narrative mentions Gibraltar’s Gaming Commissioner and the Data Commissioner, neither of whom has yet initiated a public investigation despite the serious allegations.

How were dissenting employees treated according to the article?
The article states that employees who questioned or resisted these practices, including former CEO Sagi Lahav and Manasco himself, were pushed out of the company to protect the interests of those controlling the funds.

What was the reason behind shutting down Mansion Group’s operations?
Rather than issues with growth or financial loss, the decision to shut down operations across several countries was allegedly driven by fears of regulatory exposure and impending legal consequences.

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.