Retired soccer player Ronaldinho Gaúcho has been charged with allegedly running a $61 million cryptocurrency scam.and After disappearing during two hearingsThe Brazilian legend has finally spoken.
Soccer star Ronaldinho Gaucho denies any relationship to $61M ’18K Ronaldinho’ MLM This is despite the fact that the company responsible for the alleged cryptocurrency scam is named after a football star.
18K Ronaldinho promises customers that through cryptocurrency trading and arbitration, it can earn 2% of daily income. In less than a year, the rate of return is as high as 400%. This rate of return has been proven countless times to be unsustainable.
Photos of the former world-class athlete were also used in the marketing and promotion of the 18K Ronaldinho company. However, the footballer claims he was never a partner of the company and that the company used his name and likeness without his knowledge.
Ronaldinho further explained that the photos allegedly used to market 18K Ronaldinho’s company were part of a contract he signed in July 2019 to promote a company selling watches called 18K Watches. American company. However, the contract was reportedly never implemented as it was terminated in October of that year, according to him.
The soccer star revealed he later realized 18K Ronaldinho was using his name and image to promote the company, but never took legal action against the company as he too fell victim to cryptocurrency scam.
Ronaldinho in court
Ronaldinho Gaucho finally Appeared Court appearance on August 31, 2023, after which Missed two previous hearings Developed by the Brazilian Congressional Committee. He has since claimed he was not to blame for missing those hearings and that his absence was due to bad weather.
The football star finally appeared in court, with authorities ordering that if he did not appear again, he would face a possible fine or be taken to court forcibly.
Ronaldinho Gaucho was initially criminally charged in the case in February 2020 after hundreds of Brazilian victims filed fraud complaints against the company.
During the hearing, the football star remained completely silent and avoided many of the questions that were put to him. That’s because his brother Roberto de Assis Moreira and business representative Marcelo Lara had testified before the committee last week.
He repeatedly declined to comment when asked about the $61 million lawsuit. The soccer star also remained silent when Brazil’s congressional committee president Oreo Ribeiro asked if he intended to compensate those who had invested in 18K Ronaldinho’s company.
The case is being prosecuted by Brazil’s lower chamber, the Chamber of Deputies, and is currently pending Investigate 10 other companies According to the Brazilian Securities and Exchange Commission, the commission also maliciously promised high returns on cryptocurrency investments.
Market remains highly volatile | Source: Crypto Total Market Cap on Tradingview.com
Featured image via Eurosport, chart via Tradingview.com