Philippines’ MANILA In Caloocan City, actor Ricardo Cepeda was detained on suspicion of syndicated estafa.
Around 11 a.m., Quezon City Police District (QCPD) agents detained the 57-year-old Cepeda, actual name Richard Cesar Go, in a restaurant on Mabini Street in Maypajo.
In accordance with Presidential Decree 1689, Cepeda was charged with syndicated estafa under Article 314 of the Revised Penal Code, and police executed an arrest warrant for him.
When the police hauled Cepeda into arrest, he made no resistance.
Judge Gemma Bucayu-Madrid of Regional Trial Court Branch 12 in Sanchez Mira, Cagayan, issued the arrest warrant.
As of Saturday afternoon, there were no additional specifics on the allegations against Cepeda.
A syndicate formed with the intention of carrying out an unlawful or illegal act, transaction, enterprise, or scheme that results in the misappropriation of funds from stockholders, members of rural banks, cooperatives, “samahang nayon(s),” or farmers’ associations, or from funds raised by corporations or associations from the general public is subject to a life sentence under PD 1689.
Cepeda was brought to Camp Karingal’s QCPD headquarters for paperwork.
