In a recent development, former football star Ronaldinho may face detainment in his home country of Brazil due to his failure to testify in an ongoing crypto scam investigation. The case centers on a pyramid scheme linked to ’18kRonaldinho’, a company associated with the Brazilian soccer legend.
This venture, it is alleged, promised clients daily profits of over 2% via crypto investments, leading to a lawsuit seeking over $61 million in damages for their failure to return such profits. With Ronaldinho failing to attend a congressional hearing on two occasions, citing unfavorable weather, Brazilian law may enforce his attendance, issuing penalties if necessary.
As the inquiry widens into crypto fraud within the country, Ronaldinho’s legal counsel maintains that the ex-player was merely a figurehead or ‘ambassador’ for the company, thus a victim himself of the purported scam. His legal team claims his credibility and name were unlawfully employed to ensnare conceivable clients sans the requisite approval.
While these claims are under scrutiny, it’s critical to note that this isn’t Ronaldinho’s first encounter with the law. In 2020, Ronaldinho and his brother Roberto de Assis were jailed in Paraguay for using fake passports, spending over 170 days in confinement. Assis is also implicated in the current crypto probe.
Meanwhile, Ronaldinho continued his crypto endeavors in collaboration with INFLUXO in 2021, launching a nonfungible token (NFT) collection.
As the drama unfolds, the alarm bells louden for crypto enthusiasts and investors. While crypto offers the advantage of potentially high returns, it also carries considerable risks. This incident underscores the necessity for robust regulatory measures to shield investors from fraudulent practices. Without strict monitoring and investigative mechanisms, the crypto arena remains a fertile ground for pyramid schemes and scams, despite its revolutionary potential.
Hence, notwithstanding the allure of spectacular returns promised by ventures such as ’18kRonaldinho’, cautious due diligence is paramount. Avoid being swayed by celebrity endorsements alone, as was the case here. The crypto realm is undoubtedly a dynamic, exciting sector full of potential, but it also calls for a cautious, well-informed approach to navigate its risks effectively.
Source: Cointelegraph
