Ronaldinho Gaúcho Faces Potential Detention in Brazilian Crypto Fraud Investigation

As part of an ongoing investigation into cryptocurrency fraud, Brazilian police may decide to imprison renowned Brazilian soccer great Ronaldinho Gacho. An alleged pyramid scheme involving one of Ronaldinho’s businesses is the subject of this inquiry.

Summoned But Not Appeared

The most recent missed appearance before Brazil’s Congress was on August 24. Despite being called, the former Paris Saint-Germain, FC Barcelona, and AC Milan player failed to show up on two occasions. The bad weather was cited as the reason he missed the committee hearing. However, Ronaldinho will have another chance to speak on August 31 thanks to Congressman Aureo Ribeiro. If Ronaldinho continues to refuse to cooperate, authorities may force him to appear before the committee.

Brazilian law mandates that anybody summoned to testify before Congress must do so. If someone ignores a subpoena, the court may impose penalties and call the police to make them attend.

The 18kRonaldinho Saga

The inquiry focuses on Ronaldinho’s participation in “18kRonaldinho,” a project that allegedly promised investors daily returns surpassing 2% by making bitcoin deposits. For failing to make these projected earnings, the corporation is presently being sued for more than $61 million in damages. This judicial case is a component of a larger investigation into bitcoin fraud in Brazil.

The defense of Ronaldinho contends that he should be regarded as another victim of the alleged fraud because he was only a “ambassador” for the business. They claim that in order to deceive potential customers, his name and likeness were utilized without his consent. The nonfungible token (NFT) collection by Ronaldinho, developed in 2021 in association with INFLUXO, is another example of his foray into the cryptocurrency world

Ronaldinho Gacho’s legal position is still up in the air while the investigation continues, and how he responds to the impending congressional hearing might have a big impact on the outcome of the case.