GMA rejects TAPE’s settlement offer in estafa complaint

TAPE and GMA logos. FILE PHOTO

GMA Network’s estafa complaint against TAPE Inc. will be re-raffled to another prosecutor for preliminary investigation, after the former did not accept the settlement offer of the production company.

According to “24 Oras” on Wednesday, June 11, TAPE’s offer during the mediation sessions was reportedly not enough to settle its debt to the network, which is demanding P37.9 million from the production company.

GMA earlier said that these funds were the airtime fees that were not remitted despite multiple formal demands, and were instead used for TAPE’s operating expenses.

GMA had accused TAPE of estafa through abuse of confidence, filing a complaint before the Office of the City Prosecutor in Quezon City in May. The Kapuso network alleged that the production company misused funds amounting to ₱37,941,352.56 for their operating expenses.

“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.

Named in the complaint are former TAPE president and CEO Romeo Jalosjos, Jr., chairman Romeo Jalosjos, Sr., treasurer Seth Frederick “Bullet” Jalosjos, current CEO Malou Choa-Fagar, former SVP for Finance Michaela Magtoto, and finance consultant Zenaida Buenavista.  /ra