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Brazil’s renowned footballer, Ronaldinho, is currently under scrutiny for his purported involvement in a cryptocurrency scam. The star athlete recently missed a hearing in Brazil, raising concerns about potential legal consequences.

Ronaldinho was scheduled to testify on August 24 regarding his alleged participation in a crypto pyramid scheme. However, he failed to appear, citing adverse weather conditions as the reason for his absence. This information was reported by the local newspaper, O Globo.

Congressman Aureo Ribeiro has stated that Ronaldinho will be given another opportunity to present his testimony before Congress on August 31. If he misses this second chance, the authorities will be compelled to arrest him.

The court has identified that Ronaldinho, along with his brother Assis and business associate Marcelo Lara, were the proprietors of a company named 18kRonaldinho. This company is suspected of orchestrating a cryptocurrency scam, specifically in the form of a pyramid scheme. 18kRonaldinho had been enticing clients with a daily return on investment (ROI) of almost 2%. Due to these suspicious activities, the company is now facing a lawsuit that demands over $61 million in damages. There is a growing concern that Ronaldinho might have leveraged his widespread fame and influence to deceive investors in Brazil.

The Intersection of Sports Celebrities and Crypto Scams

The crypto industry, while promising, is riddled with scams, and famous sports personalities are not immune to its pitfalls. Many are now recognizing the risks associated with endorsing various cryptocurrency projects.

In a related incident, after the downfall of the FTX crypto exchange, sports legends like Shaquille O’Neal and Tom Brady are striving to disassociate themselves from the platform’s promotional campaigns. Their promotional activities for FTX have led to legal challenges, highlighting the potential dangers celebrities face when aligning with crypto ventures.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.