Ricardo Cepeda speaks up following arrest for alleged estafa: 'Model lang ako about the products'

Ricardo Cepeda spoke up after his arrest in Caloocan on Saturday, Oct. 7, for alleged syndicated estafa.

According to a report by 24 oras, Cepeda said that he is only a model of the company involved in the complaint.

"I was shocked because I didn't, I wasn't aware na umabot sa may warrants ako. I had heard na may mga scam daw but 'di ko alam na sinama nila ako," the 58-year-old actor said.

"I am not connected at all sa company. Even sa business registration, my name is not there," he added. "Wala ako sa running business, anything of the company. Ano, model lang ako about the products."

Cepeda, whose real name is Richard Cesar Go, was taken into custody by the Quezon City Police District (QCPD) in a resto-bar in Maypajo at 11 a.m. on Saturday.

Cepeda did not resist his arrest and was brought to the headquarters of QCPD in Camp Karingal for documentation before he was detained.

"Nagulat rin po siya nung sinilbihan natin siya ng warrant of arrest. Nagko-conduct po siya ng ribbon-cutting sa area. Inaresto po natin siya nung bago palang po magkaroon ribbon cutting," QCPD Criminal Investigation and Detection Unit (CIDU) Chief PMAJ Dondon Llapitan said in the interview.

Moreover, CIDU-QCPD cannot tell the amount of the estafa, which has reached over 40 complaints.

"Ito po'y nangyari sa area ng Cagayan sa Sanchez Mira," Llapitan said.

In addition to the 23 counts of syndicated estafa, Cepeda will also face charges due to bouncing checks and another three counts of violation of RA No. 8799 or Securities Regulation Code. These are all upon the verification of the authorities. 

"Vinerify po natin 'yung e-warrant po natin at nalaman po natin na marami pa siyang warrant na pending," Llapitan said.

Cepeda, for his part, is confident that he will win the cases against him: "Yung ano ko lang is the time. The wasted time that I can't do anything. I cannot work because I'm here trying to prove my innocence." 

According to the Department of Justice (DOJ) syndicated estafa involves five or more persons who group together with the intention of carrying out an unlawful transaction or scheme which results in the misappropriation of money contributed by stockholders. 

If proven guilty, individuals charged with syndicated estafa will be penalized with life imprisonment to death regardless of the value of the damage caused.

On Oct. 9, Cepeda's stepson and model Joshua de Sequera said the actor was "wrongly accused," stressing that Cepeda was just the brand ambassador of the sales company its investors charged for estafa.

The model added that Cepeda "had no knowledge nor participation" in the company's investment scheme wherein it offers a big monthly profit to investors "with advanced payouts in monthly postdated checks."