Ben Madilynn
— GMA Network filed a criminal complaint for alleged Estafa with abuse of confidence against officers of Television and Production Exponents, Inc. or TAPE.
Named as respondents in the complaint were former TAPE president Romeo Jalosjos, Jr., board chairman Romeo Jalosjos, Sr., and treasurer Seth Frederick “Bullet” Jalosjos.
Other TAPE executives included in the complaint were current president Malou Choa-Fagar, former finance senior vice president Michaela Magtoto, and finance consultant Zenaida Buenavista.
The complaint, filed before the Office of the City Prosecutor of Quezon City, is in regard to the alleged misappropriation of funds amounting to nearly P38 million.
According to GMA, respondents failed to remit advertising revenues collected from clients, which had been contractually assigned to the network under a 2023 Assignment Agreement.
The funds were not transferred to GMA despite multiple formal demands, and the network said the funds were instead used for TAPE’s operational expenses, in violation of the trust arrangement outlined in the previously mentioned agreement.
As a result, GMA is pursuing legal action to hold responsible officers accountable and recover the misappropriated amount.
Source: GMA files Estafa vs Romeo Jalosjos, other TAPE officers
