GMA Network files estafa complaint against TAPE Inc. officers
GMA Network Inc. has filed an estafa complaint with abuse of confidence against officers of Television and Production Exponents, Inc. (TAPE Inc.).
The network alleged that the former producer of the noontime show Eat Bulaga! misappropriated funds totaling P37,941,352.56. The complaint was filed before the Office of the City Prosecutor of Quezon City.
"The complaint stems from respondents' failure to remit advertising revenues collected from clients, which had been contractually assigned to GMA Network under a 2023 Assignment Agreement," GMA said in a statement on May 22.
It added that after multiple demands, TAPE supposedly failed to transfer said funds, as they were instead used for the production company's operational expenses, which violates the trust arrangement in their agreement.
"GMA Network is pursuing legal action to hold the responsible officers accountable and to recover the misappropriated amount."
Former TAPE Inc. president and CEO Romeo Jalosjos Jr., Chairman of the Board Romeo Jalosjos Sr., treasurer Bullet Jalosjos, former COO and current president and CEO Malou Choa-Fagar, former senior vice president for finance Michaela Magtoto, and finance consultant Zenaida Buenavista were named in the complaint.
PhilSTAR L!fe has reached out to TAPE Inc. and the respondents for comment but has yet to receive a response.
