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Football legend Ronaldinho strongly denied any connection to a $61 million cryptocurrency pyramid scheme during a congressional hearing in Brazil on August 31.
The scheme, which operates under the name “18kRonaldinho,” promised 2% daily returns on cryptocurrency investments and is currently facing a lawsuit seeking to recover $61 million in damages.
When the promised returns were not met, a formal inquiry was initiated. Ronaldinho was summoned by the Brazilian Congressional Committee to answer questions and he said he had no links to the cryptocurrency pyramid scheme that bears his name.
Ronaldinho missed the last two seasons
Ronaldinho’s appearance before the congressional committee came after being absent for the previous two sessions. His brother and business representative, Roberto de Assis Moreira, appeared before the same committee last week to testify. In the second instance, he pointed out that he missed the August 24 hearing due to the closure of the Porto Alegre airport due to bad weather conditions.
He said that he signed a contract with American company 18k Watch Corporation in 2016 to market a range of watches.
“They misused my name to make it the corporate name of this company,” he said.
Ronaldinho stated that all of his images used by the plan were from promotional photoshoots he conducted for the watch company.
The former football star stressed that he never authorized the use of his image for the sale of cryptocurrency. In his statement, he insisted, “18thousand Ronaldinho was never authorized to use my name and my image or nickname in the company’s corporate name. I was a victim.”
Ronaldinho Testifies Before Brazilian Congressional Committee
a broad trend
Several celebrities and influencers have been linked to questionable cryptocurrency schemes in recent times. These cases often involve the promotion of NFTs (non-fungible tokens) or cryptocurrencies that fail to deliver on their promises.
In April last year, Time magazine reported that the “Save the Kids” initiative, which was endorsed by influencers from the popular FaZe e-sports clan as a way to help underprivileged children and make money for investors, was a scam. Was.
And two influential people faced charges in connection with the CSGOLotto scam. In the case of Central Tech, influential people were used to defraud millions, leading to investigations of celebrities including DJ Khaled and Floyd Mayweather.
Recently, Kim Kardashian and Jake Paul have faced scrutiny for their role in promoting EthereumMax.
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Source: insidebitcoins.com
