Actor Ricardo Cepeda was nabbed by local authorities in Caloocan City for allegedly engaging in a syndicated estafa scheme.
In a report by The Philippine STAR, the Quezon City Police District (QCPD) took the 57-year-old actor into custody on Saturday evening at a restobar located on Mabini Street in Maypajo.
The STAR further said that the actor did not resist the arrest.
The warrant of arrest was issued by Regional Trial Court Branch 12 Judge Gemma Bucayu-Madrid in Sanchez Mira, Cagayan.
Following his arrest, Cepeda was brought to the QCPD headquarters at Camp Karingal for official documentation.
According to the law, syndicated estafa is a non-bailable offense as defined in Article 315, (2) (a) of the Revised Penal Code, and carries a maximum penalty of life imprisonment if proven beyond a reasonable doubt.
“Under PD 1689, a penalty of life imprisonment is imposed on a syndicate consisting of five or more persons formed with the intention of carrying out the unlawful or illegal act, transaction, enterprise or scheme, and the fraud results in the misappropriation of money contributed by stockholders, or members of rural banks, cooperative, “samahang nayon(s),” or farmers’ associations, or of funds solicited by corporations or associations from the general public,” The Philippine STAR expounded on the charges.
Cepeda is the longtime partner of model-turned-actress Marina Benipayo.
He was previously married to veteran actress Snooky Serna, with whom he shares two children.
