GMA Network, Inc. has taken legal action against several key officers of Television and Production Exponents, Inc. (TAPE), filing a criminal complaint for estafa with abuse of confidence in connection with the alleged misappropriation of over ₱37.9 million.
The complaint was lodged before the Quezon City Prosecutor’s Office and names former and current executives of TAPE, including former president and CEO Romeo Jalosjos Jr., board chairman Romeo Jalosjos Sr., treasurer Bullet Jalosjos, current CEO Malou Choa-Fagar, former SVP for finance Michaela Magtoto, and finance consultant Zenaida Buenavista.
GMA claims the issue stems from advertising revenues collected by TAPE that were supposed to be remitted to the network, as stipulated in a 2023 Assignment Agreement. Instead, the network says, the funds—amounting to ₱37,941,352.56—were diverted to cover TAPE’s operational expenses, violating the terms of their financial arrangement.
Despite repeated demands, the money was never returned, prompting GMA to pursue legal recourse.
The network emphasized that the move aims to ensure accountability and recover the funds that were contractually owed.
