Ronaldinho Faces Potential Jail Time Over Crypto Pyramid Hearing No-Show

Brazilian football legend Ronaldinho has failed to appear at a parliamentary hearing regarding crypto pyramids, prompting lawmakers to issue a summons. The Financial Pyramids Committee of the Brazilian Chamber of Deputies sought Ronaldinho’s testimony on his alleged involvement in the companies 18kRonaldinho and LBLV. Lawmakers are investigating whether the former Barcelona star permitted the use of his name and image in advertising materials for 18kRonaldinho, a company accused of running a scam platform. The platform attracted investors by promising daily gains of 2% or more on their crypto stakes.

Aureo Ribeiro MP, the committee’s president, expressed his intent to issue a special warrant to forcefully bring Ronaldinho to the chamber if he fails to attend the next hearing. Ronaldinho’s brother, Roberto de Assis Moreira, attended the initial hearing and claimed that Ronaldinho had cooperated with the investigations and provided clarifications to the nation’s Public Ministry. However, lawmakers insisted on Ronaldinho’s personal attendance to make a statement.

Investors who lodged a complaint against 18kRonaldinho are seeking restitution of approximately $61 million collectively. Ronaldinho’s lawyers contend that he was also a victim and never authorized the use of his name or image. The football icon ventured into the cryptocurrency space by launching a crypto asset named RON in collaboration with crypto firm P00LS. This case highlights the intersection of sports celebrities and the cryptocurrency sector, reflecting both potential opportunities and challenges when they engage with digital assets.