TAPE Inc. Denies Receiving Estafa Complaint
Lawyer Maggie Abraham-Garduque, spokesperson for TAPE Inc., stated that the company has not received any copy of the estafa complaint reportedly filed by a major broadcasting network. She emphasized that the complaint does not appear in the records of the city prosecutor’s office.
“I called TAPE about the article published at GMA News but they did not know anything about it. I directed one of the alleged respondents in said case to go to the Office of the City Prosecutor of Quezon City to check on the case but she was informed that no case was filed against them by GMA. Thus, they were surprised of said news article,” she explained.
She further added, “Anyway, TAPE has not received any copy of the complaint filed against them. They will issue a statement as soon as they receive a copy of the complaint, if indeed there is. Rest assured that they will follow and respect the legal proceedings.”
Details of the Estafa Complaint
According to sources familiar with the matter, the complaint alleges that officers of TAPE Inc. misappropriated P37,941,352.56 in advertising revenues. The complaint was reportedly filed with the Office of the City Prosecutor in Quezon City.
The officers named in the complaint include the former president and CEO, chairman of the board, treasurer, former COO and current president and CEO, former senior vice president for finance, and a finance consultant.
Allegations of Misappropriation of Advertising Revenues
The complaint asserts that TAPE failed to remit advertising revenues collected from clients, which were contractually assigned to the network under a 2023 Assignment Agreement. Despite several formal demands, the funds were not transferred because they were allegedly used for TAPE’s operational expenses instead. This action is claimed to violate the trust arrangement outlined in the agreement.
Legal experts say the network is pursuing legal action to hold the responsible officers accountable and to recover the misappropriated amount.
For more news and updates on estafa complaints, visit Filipinokami.com.
