Arrest Warrant for Former Mansion CEO: Embezzlement, Allegations, and Flight from Justice

Arrest in Gibraltar: What Happened

In Gibraltar, an arrest warrant was issued for former Mansion Group CEO Karel Manasco. The court made this decision after he failed to appear at a hearing on April 9 regarding a contempt of court case.

Previously, Manasco had been accused of embezzling €2.5 million through fake payments to White Wizard Media — a company that provided no actual services. He also transferred £127,000 to a questionable consulting firm.

Details of the Allegations

Karel Manasco, 44, is under investigation for allegedly misappropriating around £5 million in company funds. In March 2023, a worldwide freezing order was imposed on his assets, which he repeatedly violated. As a result, the court found him guilty of contempt of court.

In 2024, the court once again froze £5 million of his assets and ordered him to return the stolen funds. Manasco ignored the requirement to appear in court, leading the judge to issue a warrant for his arrest.

Attempt to Challenge the Judge

Instead of appearing in court, Manasco filed an application through his lawyer seeking the recusal of the judge, accusing Mr. Justice Dudley of bias. According to Manasco:

• The judge, Mansion Group, the law firm Isolas, and former minister Albert Isola were allegedly conspiring against him.
• The regulator and even the media (specifically GBC) had, in his view, taken the prosecution’s side.
• He portrayed himself as “David versus Goliath,” claiming he was targeted for trying to expose alleged wrongdoing within the company.

However, he presented no evidence to support these claims.

The judge dismissed the motion, calling recusal “the easy way out,” but stated that it would be wrong. The decision — not to step aside and to proceed with the case.

What’s Next

The next court hearing is scheduled for May 14. Until then, Manasco remains wanted.