Ronaldinho | Renowned Brazilian football icon Ronaldinho has evaded a crucial parliamentary hearing centered around crypto pyramids, a move that may lead to legal repercussions including potential imprisonment should he disregard another scheduled hearing later this month.

Reported by Sport.es and Livecoins, the Financial Pyramids Committee of the Brazilian Chamber of Deputies summoned Ronaldinho, the former Barcelona star and a key figure in the Brazilian national team, on August 24th.

Contrary to expectations, Ronaldinho was absent from the hearing, triggering the disappointment of lawmakers who issued the initial summons.

Aureo Ribeiro MP, the president of the commission, responded by indicating that if Ronaldinho fails to appear for a subsequent hearing, he would seek a court-issued special warrant, granting law enforcement the authority to forcibly bring the former football sensation to the chamber.

The focus of the committee’s attention lies in Ronaldinho’s potential association with the entities 18kRonaldinho and LBLV.

Specifically, lawmakers are eager to uncover Ronaldinho’s precise involvement with 18kRonaldinho, a company suspected of orchestrating a fraudulent platform.

The platform enticed cryptocurrency holders to invest a minimum of $30 worth of digital assets, promising them daily returns of 2% or higher on their investments.

Lawmakers suspect that the firm’s origins were in the realm of “watch and jewelry trading,” and hypothesize that Ronaldinho’s role might have been of an “ambassadorial” nature.

Of paramount interest to the committee is whether Ronaldinho granted explicit permission for the company to exploit his name and image in promotional materials.

The Absence of Ronaldinho in the ‘Crypto Scam’ Hearing Raises Questions

Notably, Ronaldinho’s brother, Roberto de Assis Moreira, did attend the hearing and briefly engaged with the lawmakers, discussing the intricacies of the two companies.

In his dialogue with the MPs, Ronaldinho’s sibling indicated that Ronaldinho had been actively cooperating with the investigations surrounding both companies and had already provided comprehensive clarifications to the nation’s Public Ministry.

However, this explanation seemed insufficient to mollify the MPs, who maintained their insistence on Ronaldinho’s personal attendance at a committee hearing to deliver an in-person “statement.”

The committee’s attention was initially captured by a complaint lodged by disgruntled investors against 18kRonaldinho.

These investors have initiated a civil lawsuit against the company, contending that they collectively suffered losses amounting to approximately $61 million.

Ronaldinho’s legal representation countered these allegations, asserting that the former football superstar was also a “victim” in this scenario, emphasizing that he had never granted permission for the use of his name or likeness by the company.

In the past year, Ronaldinho made headlines for his collaboration with the crypto firm P00LS in launching a cryptoasset named RON.

The world of Brazilian football has witnessed mixed outcomes when intertwined with the crypto sphere. In recent years, a group of unnamed professionals were reportedly involved in a $769 million “crypto pyramid.”

Furthermore, earlier this year, two other football professionals found themselves embroiled in legal proceedings following their investments in an alleged “crypto scam,” purportedly influenced by the recommendations of a third player’s company.

Allegations of Crypto Scam Involving Brazilian Football Stars: The Players Under Scrutiny

In the realm of Brazilian professional football (soccer), a disconcerting narrative has emerged, centering around two distinguished players ensnared in what appears to be a crypto scam. These athletes assert that they were ensnared into investing in a dubious cryptocurrency venture, guided by none other than a fellow football professional.

Unveiled through the outlets of Suno, Lance, and ESPN Brasil, this peculiar saga features two prominent players who have embarked on legal recourse against a company overseen by a third athlete. The legal proceedings are spearheaded by Mayke, who presently graces the Palmeiras roster in São Paulo, Brazil, and Gustavo Scarpa, an accomplished midfielder for Nottingham Forest in the English Premier League.

The legal crosshairs of Mayke and Scarpa are firmly aimed at a company bearing the moniker “WLJC,” purporting to offer “consultancy” and “financial planning” services. This enterprise is under the stewardship of Willian Bigode, an individual who currently plies his trade at Fluminense, a noteworthy entity in Brazil’s top-tier football division.

The foundation of this case rests upon allegations that Mayke and Scarpa, based on WLJC’s guidance, made a considerable investment exceeding $2 million in the crypto domain during May of the preceding year. Assurances were allegedly provided that these investments would yield monthly profits ranging from 3.5% to 5%.

However, the promised returns failed to materialize, and when the players endeavored to withdraw their investments, they encountered resistance. This disillusionment prompted the duo to initiate legal action, contending that Bigode was the conduit through which they were introduced to this ill-fated endeavor. Their legal petition seeks accountability for Bigode’s role and the restitution of their financial assets.

Footballer Bigode’s Perspective: A Tale of Crypto Misfortune

As reported by the aforementioned media outlets, WLJC directed Mayke and Scarpa’s attention towards a platform named Xland Holding for their investment endeavors.

Regrettably, in October 2022, the Public Ministry of the Brazilian state of Acre labeled Xland as a “possible financial pyramid scheme,” casting a shadow of suspicion over the venture.

However, Bigode’s legal representatives stand resolute in asserting their client’s innocence, painting him as a victim ensnared by the tentacles of the Xland scheme. They reveal that Bigode himself experienced financial losses amounting to around $3.4 million through his own engagement with the investment. Furthermore, his advocates assert that his recommendation of the project to Mayke and Scarpa was a consequence of the recommendations made by individuals in whom he placed unwavering trust.

In a statement, Bigode’s legal team outlined:

“WLJC is not a brokerage entity and lacks the authority to undertake investments on behalf of clients. Its operations are exclusively confined to the domain of financial planning.”

Recent developments reveal that Indeal, a Brazilian company implicated in orchestrating a crypto pyramid scheme valued at approximately $193 million, has declared bankruptcy. This somber conclusion marks yet another chapter in the complex landscape of cryptocurrency-related controversies.

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