Ronaldinho’s Crypto Controversy: Soccer Star Misses Scam Hearing

Ronaldinho’s Crypto Controversy: Soccer Star Misses Scam Hearing

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Brazilian football legend Ronaldinho Gaúcho is embroiled in a cryptocurrency scandal, facing potential detention due to his alleged involvement in a pyramid scheme. 

Missed Testimony and Legal Implications

The former football star's iconic status reportedly led to financial losses for numerous investors. As a result, he was summoned by the Brazilian Chamber of Deputies’ Financial Pyramids Committee to testify on August 24 regarding his alleged association with the companies 18kRonaldinho and LBLV. 

However, adverse weather conditions disrupted his travel plans, resulting in the cancellation of flights to the hearing's location in Porto Alegre.

The committee has granted Ronaldinho another chance to testify, rescheduling the hearing for August 31. If he fails to appear again, authorities have warned that law enforcement agents could take more drastic measures.

Key Players and Allegations

Other than the former football player, the investigators are also looking into his brother Assis and business partner Marcelo Lara in their involvement in the venture. The firm, 18kRonaldinho, has been accused of orchestrating a cryptocurrency scam reminiscent of a pyramid scheme by allegedly promising daily returns exceeding 2%. 

The company lured investors to commit at least $30 worth of cryptocurrency. These investors are now demanding approximately 300 million reais or $61 million for the damages incurred. They claim the venture deceived them through false promises and illegitimate use of Ronaldinho's name and image.

Ambassador or Accomplice?

Despite the allegations, Ronaldinho is maintaining his innocence in the matter. His legal team has contended that he was merely an "ambassador" for the company, asserting that his name and image were exploited without proper authorization. They argue that he was also a victim of the fraudulent operation, similar to many investors.

Despite Assis' claims that Ronaldinho has cooperated with investigations and provided clarifications to the nation's Public Ministry, lawmakers remain skeptical. They insist that Ronaldinho must testify in person to provide a firsthand account of his involvement.

However, this isn't the first legal issue Ronaldinho has faced. In 2020, he and his brother Assis were arrested in Paraguay for using forged passports. This incident, combined with Assis' involvement in the ongoing cryptocurrency investigation, raises questions about their credibility.

As the rescheduled hearing approaches, Ronaldinho's fate hangs in the balance. The authorities will scrutinize the football star's credibility and alleged role in the cryptocurrency scandal. Investors and fans alike await further developments in this unfolding controversy.

Many other football players and sportsperson have hitched their wagons to several crypto projects. Ronaldinho himself has several other projects brewing in the space. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

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