One of Brazil’s most famous football icons, Ronaldinho, has found himself at the center of a controversy surrounding his alleged involvement in crypto pyramids. The former Barcelona star and Brazilian national team player failed to appear at a parliamentary hearing on Thursday, August 24, resulting in a summons being issued by the Brazilian Chamber of Deputies’ Financial Pyramids Committee. This has sparked concerns that Ronaldinho may potentially face jail time if he refuses to attend another hearing later this month.
The Financial Pyramids Committee, led by its president Aureo Ribeiro MP, is eager to speak to Ronaldinho regarding his alleged ties to the companies 18kRonaldinho and LBLV. In particular, lawmakers are interested in understanding Ronaldinho’s association with 18kRonaldinho, as they suspect the company of operating an illicit investment scheme. The platform operators allegedly lured investors by promising daily returns of 2% or more on their investments of a minimum of $30 worth of cryptocurrency.
Questions have arisen surrounding Ronaldinho’s relationship with 18kRonaldinho, leading lawmakers to investigate whether the football star gave the company permission to use his name and image in their advertising materials. Lawmakers suspect that Ronaldinho may have assumed an “ambassadorial” role for the company, which initially functioned as a “watch and jewelry trader.” However, authorities want clarity on Ronaldinho’s level of involvement and whether he played a direct role in enticing investors into the alleged scam platform.
During the parliamentary hearing, Ronaldinho’s brother, Roberto de Assis Moreira, attended on his behalf and provided some insights into the situation. Moreira informed the lawmakers that Ronaldinho has been cooperative with the ongoing investigations into the two companies, having already provided explanations to the nation’s Public Ministry. Despite this, the MPs remained unsatisfied and insisted on Ronaldinho’s personal presence at a committee hearing to make an official statement.
The alarm was initially raised by disgruntled investors who lodged a complaint against 18kRonaldinho. These investors have collectively claimed to have lost around $61 million, resulting in a civil lawsuit against the company. Ronaldinho’s legal team, however, argues that he himself is a victim in this situation, emphasizing that he never granted permission for his name or image to be used by 18kRonaldinho.
Ronaldinho is not the first Brazilian footballer to be involved in controversy surrounding crypto investments. Last year, several unnamed professionals were rumored to have invested in a $769 million “crypto pyramid.” Earlier this year, two players initiated legal proceedings after allegedly falling victim to a “crypto scam,” purportedly on the recommendation of a third player’s company.
As the spotlight intensifies on Ronaldinho’s alleged involvement in crypto pyramids, the football icon faces mounting pressure to attend the upcoming committee hearing. Failure to do so may result in a court-issued warrant that could force him to appear before the lawmakers forcefully. With millions of dollars at stake and the reputation of one of Brazil’s most celebrated athletes hanging in the balance, the outcome of this case will undoubtedly send ripples throughout the sports and crypto industries.
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