Latest news with #941
GMA Network
29-05-2025
- Business
- GMA Network
GMA Network, TAPE lawyers meet in mediation conference
Lawyers of GMA Network and Television and Production Exponents (TAPE) Inc. appeared in a mediation conference on Thursday to discuss the possibility of reaching a settlement in relation to the estafa complaint that GMA filed against TAPE. According to Mariz Umali's report on '24 Oras' Thursday, the mediation conference was held at the Office of the City Prosecutor of Quezon City 'We want to collect the amount that was misappropriated. The amount that should have been given to GMA but was not remitted by the officers of TAPE. We have been waiting for the remittance of the ad revenues. Unfortunately, despite repeated demands, hindi nabigay sa atin 'yon,' GMA Network's legal counsel Atty. Lynn Delfin said. TAPE Inc. did not deny its obligations to GMA Network. 'I think TAPE naman is not denying that there's collectibles to the corporation. Maybe the main contention only is whether it's civil or criminal,' TAPE Inc.'s legal counsel Atty. Maggie Garduque said. The prosecutor's office has set another mediation conference on June 11 to determine if GMA Network will accept TAPE Inc.'s offer. 'We have been saying din naman that management is open to listen and to see what offer they have. And if it's reasonable, we can decide on what to do about it,' Atty. Delfin said. 'Under the rules, 'yung mediation kasi is also dependent on the complainant if they are willing or open for settlement. So, in this particular case kasi maganda na nalaman natin on the part of GMA that they are open for settlement,' Atty. Garduque said. Should the mediation fail on June 11, the preliminary investigation of the case will proceed, and the merits of the case will be discussed in court. GMA Network, Inc. had filed a criminal complaint for estafa with abuse of confidence against officers of TAPE Inc. for the misappropriation of funds totaling P37,941,352.56. The complaint stems from the respondents' failure to remit advertising revenues collected from clients, which had been contractually assigned to GMA Network under a 2023 Assignment Agreement. Despite multiple formal demands, the funds were not transferred to GMA because they were instead used for TAPE's operational expenses, in violation of the trust arrangement outlined in the agreement. —Carby Rose Basina/CDC, GMA Integrated News
GMA Network
26-05-2025
- GMA Network
TAPE execs told to appear for mediation in GMA Network's estafa complaint
The Office of the City Prosecutor of Quezon City has issued a subpoena directing executives of Television and Production Exponents (TAPE) Inc. to attend mandatory mediation conferences relating to the P37.9 million estafa complaint filed against them by GMA Network. In a copy of the subpoena dated May 5, 2025, respondents Romeo Jalosjos Jr., Romeo Jalosjos Sr., Seth Frederick P. Jalosjos, Michael N. Magtoto, Zenaida Buenavista, and Malou Choa-Fagar were directed to appear for mediation conferences scheduled on May 22 and May 29 at 12:30 p.m., pursuant to Department Circular No. 031, s. 2023. "Failure to attend the mandatory mediation conferences will serve as a waiver of your right under the said Department Circular and the conduct of preliminary investigation shall proceed accordingly," the subpoena read. In a statement sent to GMA News Online Monday, TAPE's legal counsel, Atty. Maggie Abraham-Garduque, said the production company only knew about the complaint through the news on May 22 and that they only received a copy of the subpoena on May 23, which was after the first scheduled mediation conference. 'On May 22, TAPE just learned of the complaint via news and when we checked the docket section ng [Office of the City Prosecutor], wala daw po. Then, May 23, TAPE received the subpoena for mediation kaya hindi sila naka-attend,' she told GMA News Online via text messages. She also said that TAPE will follow and respect the proceedings and that they will attend the second mediation conference set for May 29. She added that they will schedule a meeting with the board of directors of TAPE on Tuesday to discuss the possible offer of settlement. 'We will schedule a meeting with the board of directors of TAPE [tomorrow] to discuss the possible offer of settlement, if there is any, because this is the purpose of mediation, for parties to come up with compromise agreement to end the dispute and forego with the regular preliminary investigation in criminal cases," said Abraham-Garduque. GMA Network, Inc. had filed a criminal complaint for estafa with abuse of confidence against officers of TAPE Inc. for the misappropriation of funds totaling P37,941,352.56. The complaint stems from the respondents' failure to remit advertising revenues collected from clients, which had been contractually assigned to GMA Network under a 2023 Assignment Agreement. Despite multiple formal demands, the funds were not transferred to GMA because they were instead used for TAPE's operational expenses, in violation of the trust arrangement outlined in the agreement. —with reports from Jade Veronique Yap and Joahna Lei Casilao/CDC, GMA Integrated News
GMA Network
22-05-2025
- GMA Network
GMA Network statement on estafa complaint against officers of TAPE, Inc.
GMA Network, Inc. has filed a criminal complaint for estafa with abuse of confidence against officers of Television and Production Exponents, Inc. (TAPE) for the misappropriation of funds totaling P37,941,352.56. The complaint, filed before the Office of the City Prosecutor of Quezon City, names the following TAPE executives as respondents: 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), and Zenaida Buenavista (Finance Consultant). 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. Despite multiple formal demands, the funds were not transferred to GMA because they were instead used for TAPE's operational expenses, in violation of the trust arrangement outlined in the agreement. GMA Network is pursuing legal action to hold the responsible officers accountable and to recover the misappropriated amount.
Associated Press
10-04-2025
- Business
- Associated Press
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