Episode 3 of "Caught" kicks off with a nostalgic flashback, portraying Martina as she passionately practices her violin in the tranquility of her backyard. Meanwhile, Leo toils away in Juliana's backyard, engaging in casual conversation until Martina inquiries about Armando. Leo, perceiving the chill in the air, generously offers her his gloves for warmth.
Fast forward to the present, and the entire town is thrown into turmoil by the shocking news of Leo's murder. Facu finds himself under arrest, while Armando grapples with sorrow. Marcos is left reeling, his heart heavy upon learning of his friend's untimely demise.
Commissioner Herrera sits down with Ema to take her statement, his curiosity piqued by Martina's mention. He drops a bombshell, revealing that the boat, adorned only with Martina's scarf, has been discovered. A desperate search ensues for her body, leaving Bruno wracked with fear. Noticing his distress, Ema offers comfort, convinced of their friendship and his innocence.
During Facu's interrogation, Herrera conveys a message of non-judgment, acknowledging that he might have acted similarly in Facu's shoes. However, he urges Facu to secure competent legal representation for the sake of his daughter.
Bruno tags along as Ema scours the lakehouse for clues, his intentions a mixture of genuine assistance and desperate attempts to conceal his theft of the boat linked to Martina's disappearance. He manages to persuade his friends to share a video captured during their lakeside gathering, which reveals Martina boarding the boat accompanied by an unidentified individual.
The girl from the party watches intently as the friends hand over the incriminating footage to Ema, each frame intensifying the mystery surrounding Martina's fate.
Simultaneously, Diego, Ema's supervisor, expresses his desire for her to broadcast the Leo episode, anticipating it to be a resounding success and cement their partnership with their latest sponsor. Yet, Ema stands firm in her refusal, insisting on the necessity for additional proof. Vicky is taken aback by this sudden shift in her demeanor, prompting Ema to confess her belief in Leo's innocence. Furthermore, Leo's phone records confirm that his only communications were with Ema, excluding any contact with Martina.
As the police track Martina's phone, they discover it was last active in proximity to her residence. Meanwhile, Bruno's suspicious behavior persists, though Ema theorizes that his actions are merely driven by a desire to shield Gael. Despite her suspicions, she interviews Gael, who responds cooperatively. He reveals that his relationship with Martina was casual, suggesting that her sudden disinterest in everything else stemmed from her involvement with an older man.
At school, students are engaged in posting missing persons flyers, featuring the girl from the party and Armando. Bruno is torn between confessing to stealing the boat and the fear of consequences. Ultimately, he decides to spare Fer from the ordeal and confess to Ema on the anniversary of his father's passing.
Elsewhere, Ema interrogates the Schulzs, who express their dismay at not knowing Martina as intimately as they once believed. Ema ponders if Leo could be the older man Martina was seeing, though they can only attest to witnessing the glove incident, devoid of any other interactions between the two.
Bruno prepares for the solemn cemetery outing, but his anticipation is clouded when he notices Ema's laser-like focus on the case, which irritates him. Matters take an unexpected turn when Martina's phone, ringing loudly with an alarm, is discovered in Leo's backpack, stunning the authorities and volunteers. They swiftly initiate a search for her in the dense woods. Ema urges Bruno to reschedule their cemetery rendezvous, prompting him to storm off in frustration.
Bruno seeks solace by visiting his father alone, but his peace is shattered by the arrival of Ariana. Upon seeing her, he flees the scene abruptly. Meanwhile, Ema engages in a conversation with Marcos, who insists that Leo is not a monster and reveals that they are well-acquainted with the forest, having spent countless hours playing there together.
The heart-wrenching discovery of Martina's lifeless body by the police plunges the Schulzs into grief, and Sofia notices Gael looking petrified. Convinced that the mystery is solved, Ema decides to conclude her episode on Leo, pinning him as the culprit. Bruno appears jittery as he heads to the police station alone, alerting Ema to his whereabouts. She is enraged that he ventured there solo, and he counters that she never listens to him or prioritizes their relationship. He further laments that Ariana could find time to visit Juan, while Ema couldn't make time for him.
As Caught Episode 3 concludes, a teenage girl enters a hotel room, but her tranquility is shattered when a masked man pursues her. She flees, creating a commotion that draws the attention of other guests, who chase after the menacing figure.