GMA Network, Inc. has filed a criminal complaint for estafa with abuse of confidence against key executives of Television and Production Exponents, Inc. (TAPE), the former production company behind the long-running noontime program Eat Bulaga. The case, now pending before the Office of the City Prosecutor of Quezon City, centers on the alleged misappropriation of advertising revenues amounting to ₱37,941,352.56, which GMA claims were contractually assigned to it but instead used by TAPE to fund its own operations.
Named as respondents in the complaint are several high-ranking TAPE officials: 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 SVP for Finance), and Zenaida Buenavista (Finance Consultant). The respondents allegedly failed to remit the collected advertising proceeds to GMA Network despite repeated formal demands, breaching a trust obligation set forth in a 2023 Assignment Agreement between the parties.
According to GMA, the disputed funds were supposed to be held in trust and transferred to the network, pursuant to the contractual arrangement that reassigned certain receivables from TAPE’s advertisers directly to GMA. However, the network alleges that the funds were diverted to cover TAPE’s operational costs—a move GMA characterizes as a clear breach of fiduciary duty and a misuse of corporate authority.
“This complaint represents our commitment to uphold contractual obligations and corporate accountability,” GMA Network stated. “We are taking the necessary legal steps to recover the misappropriated amount and to hold those responsible to account.”
TAPE, once a staple in the entertainment industry through its production of Eat Bulaga, has yet to issue a public response to the allegations. The reputational and financial fallout from the complaint could further complicate its position in ongoing industry realignments.
The case is currently under preliminary investigation by Quezon City prosecutors, and no court ruling has been made.
