GMA Network, Inc. has filed a criminal complaint for estafa with abuse of confidence against key officers of Television and Production Exponents, Inc. (TAPE) over the alleged misappropriation of funds amounting to ₱37,941,352.56.
The complaint was formally lodged before the Office of the City Prosecutor of Quezon City. Named as respondents in the filing are former and current executives of TAPE, namely:
- Romeo Jalosjos, Jr., former President and CEO
- Romeo Jalosjos, Sr., Chairman of the Board
- Seth Frederick “Bullet” Jalosjos, Treasurer
- Malou Choa-Fagar, former COO and current President and CEO
- Michaela Magtoto, former Senior Vice President for Finance
- Zenaida Buenavista, Finance Consultant
According to the complaint, the respondents failed to remit advertising revenues to GMA Network as stipulated under a 2023 Assignment Agreement.
Despite multiple formal demands, the funds, contractually assigned to GMA, were not turned over. Instead, they were allegedly diverted to cover TAPE’s operational expenses, violating the terms of the trust arrangement outlined in the agreement.
GMA Network is committed to upholding the principles of accountability and contractual integrity. This legal action is being pursued to ensure that those responsible are held to account and that the misappropriated funds are recovered. It reaffirms its commitment to transparency and legal due process and will continue to cooperate fully with authorities as proceedings move forward.
