Here’s the reaction of Ricardo Cepeda on his case
RICARDO CEPEDA – The actor shed tears as he asserted his innocence in the cases filed against him.
Ricardo was arrested in Caloocan during a ribbon-cutting event on Saturday, October 7, 2023. The police served him a warrant of arrest for 43 counts of syndicated estafa. In a video from the Quezon City Police District (QCPD), Ricardo can be seen initially resisting the arrest, but eventually, he peacefully complied with the police.
Police Major Dondon Llapitan of the QCPD’s Criminal Investigation and Detection Unit mentioned that Ricardo was reportedly surprised by the warrant when it was served on Saturday. In an exclusive interview with GMA Integrated News, Ricardo expressed his shock, stating that he was unaware of the warrants against him.
“I was shocked because I wasn’t aware na umabot sa may warrants ako. I had heard na may mga sc@ndal, pero hindi ko alam na sinama nila ako,” he said.
After the arrest, Ricardo was detained at Camp Karingal in Quezon City. The estafa case is non-bailable. The actor emphasized that he had no involvement with the investment company other than being a model for its products. The company produces energy-saving gadgets, with Ricardo serving as its brand ambassador. He stressed that he had no connection to the company beyond his role as a product model.
“I’m not connected at all sa company, even sa business registration, my name is not there. Wala ako sa running business anything of the company. Model lang ako about the products,” he stressed.
Ricardo’s stepson, Joshua de Sequera, defended his father, describing him as “wrongfully accused.” Joshua explained that the company offered an investment scheme to people, promising significant returns. However, the checks issued by the company bounced, leading to legal action by the investors. In addition to the estafa charges, Ricardo was also charged with three counts of violating RA 8799: the Securities Regulation Code.
Ricardo lamented the time wasted dealing with the charges, preventing him from working to support his family and trying to prove his innocence. Despite his ordeal, Ricardo expressed confidence that he would be acquitted.
Related Post: Ricardo Cepeda Defended by His Stepson After Being Arrested for Syndicated Estafa
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