GMA Network turns down TAPE's settlement proposal in estafa case
GMA Network declined the settlement offer of TAPE Inc. in connection with the estafa complaint filed against the latter's officers.
According to a report by Unang Balita, the two parties failed to reach an agreement during a mediation meeting about the case.
"Unfortunately, hindi siya sufficient for us to accept the offer of TAPE and how much they will be paying a settlement of all their liability to GMA," GMA Network’s legal counsel Lynn Delfin said without detailing how much TAPE Inc. offered to pay.
Lawyer Maggie Garduque, spokesperson for TAPE Inc., explained that the broadcast company is "asking for a universal settlement" on the full amount of airtime fees that had not been collected from TAPE Inc.
"Kaya hindi naging acceptable 'yung offer to settle 'yung subject of the case, nagkaroon ng problema sa mediation," she said.
GMA Network alleged that the former producer of the noontime show Eat Bulaga! misappropriated funds totaling P37,941,352.56.
"The submission of the respondents is that it's a liability of TAPE Inc., and it's a civil liability of the corporation. So that would be part of the defense during the submission of the counter-affidavit," Garduque said.
Since the mediation meeting was not successful, the case will now be raffled to a public prosecutor who will conduct a preliminary investigation on the issue to see whether it will continue to the court.
GMA Network previouslly stated that the estafa complaint stems from TAPE Inc.'s failure to remit advertising revenues collected from clients, which had been contractually assigned to GMA Network under a 2023 Assignment Agreement.
They added that after multiple demands, TAPE Inc. 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.
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.
