Ricardo Cepeda released from prison after posting bail | Image: Instagram/@officialnadiam
After almost a year in detention, actor Ricardo Cepeda was finally released from incarceration at the Cagayan Provincial Jail in Tuguegarao City, Cagayan Valley, following his arrest for syndicated estafa.
Cepeda’s release was confirmed by his wife, actress Marina Benipayo, who posted a video of them happily dancing to Elvis Presley’s “Don’t Be Cruel.”
“Richard is coming home, finally!!!! Thank you, God, for your continuing guidance; never mo kami pinabayaan (You never let us down) despite the challenge. Thankful for the strength you have given us throughout. Thank you everyone also for your prayers,” wrote Benipayo on her social media caption.
The actress also used “11 months of waiting” as one of the hashtags in her post.
Actress Nadia Montenegro also took to Instagram to celebrate Cepeda’s release by sharing a video consisting of images during the latter’s time in prison until his homecoming.
“FINALLY! An innocent man is FREE!! Praise you Lord!” began Montenegro in her caption. “My Brother, Ric for almost 1 year you patiently fought your battles in court and endured jail time hundreds of miles away from home. One by one, you faced them, knowing you did nothing wrong.”
“PRAISE YOU LORD FOR YOUR FAITHFULNESS! Ric, you have always been a kind, decent, respectful and respected human being. This was just a phase you had to go through that only our faith will allow us to surpass and understand. And you did!!! We all know you are INNOCENT! And PROVEN!!!” added the actress.
Among the photos Montenegro showed in the video was that of a court order from an executive judge approving Cepeda’s posting of bail for an undisclosed amount.
“Having posted a cash bond duly approved by this Court, the Warden of the Cagayan Provincial Jail, Tuguegarao City, Cagayan, where the accused is detained is ordered to RELEASE the accused on provisional liberty unless held for some other lawful case,” the order, signed by Executive Judge Gemma Bucayu-Madrid, read.
Another snippet showed Cepeda with Benipayo and his lawyer, holding what seemed to be his release order.
In October 2023, Cepeda was arrested by authorities in Caloocan City for 43 counts of syndicated estafa, and complaints for violations of the Bouncing Check Law and Republic Act 8799, or the Securities and Regulation Code for allegedly enticing investors to join a sales company in Cagayan. Syndicated estafa is a nonbailable offense under Art. 315, (2)(a) of the Revised Penal Code in relation to Presidential Decree No. 1689, that carries the maximum penalty of reclusion perpetua, or life imprisonment.
In coming to his defense, the actor’s stepson, model-athlete Joshua de Sequera insisted on Cepeda’s innocence, saying he was just “tapped to become a brand ambassador for a sales company.”
In March 2024, Cepeda’s twin brother, Robert Go, set up a fundraising to help pay the legal fees of the former.