Brazilian football legend Ronaldinho appeared before a congressional commission this Thursday over a fraud investigation.

Brazilian footballing legend Ronaldinho Gaucho is once again in the cross hairs of the law over a cryptocurrency scam.

Ronaldinho appeared before a congressional commission investigating the fraud with financial pyramids that his name was improperly used by two partners accused of ‘Yahoo Yahoo’ and with whom he only had a contract to promote a watch brand.

The 43-year-old former PSG, Barcelona and AC Milan star had reportedly failed to attend on the two previous occasions in which he was summoned to testify by the parliamentary commission.

Ronaldinho, who was threatened with being forcibly taken away by the police, denied all the accusations against him in more than two hours of interrogation this Thursday.

Ronaldinho alleges his name was wrongly used in fraud case

According to a report from AS Tikitakas, the commission of the Chamber of Deputies that investigates fraud with financial pyramids decided to summon the former Ballon d’Or winner for questioning because his name and image were used by the owners of the company “18K Ronaldinho” to attract resources from investors to whom they promised enormous interests.

The owners of the said company are said to have convinced investors with the purchase of cryptocurrencies, most of whom they ended up scamming.

The former Brazil international told legislators that he signed a contract with the owners of the company "18K Ronaldinho" exclusively to promote a watch brand.

Ronaldinho added that the contract was negotiated by his brother and representative, Roberto de Assis Moreira , and that he was only twice with one of the partners of that company when he was filming a commercial to promote the watches.

The Brazilian legend reportedly affirmed that he never authorized the said company to use his name or his image to promote financial businesses or to offer cryptocurrencies, and that he only found out that the partners had been using both improperly when the Prosecutor's Office opened an investigation into the scam. .

“They used my name without authorization to create another company . I was even heard by the Prosecutor's Office and the Police as a witness for the investigations into the fraud.

"I was also a victim . I never participated in that company and I never authorized the use of my name or my image,” he was quoted to have said as per the aforementioned outlet.

Ronaldinho reportedly took no action when he learned his name had been used in a Cryptocurrency scam

According to the report via AS Tikitakas, when Ronaldinho was questioned by the parliamentary commission's instructor, deputy Ricardo Silva, about what he did when he learned that his name had been used to promote the sale of cryptocurrencies, the former PSG attacker admitted that he did not report it to the Police or file any lawsuit against his partners.

The report adds that the former footballer clarified that, just as they manage his businesses and his finances, his brother and his lawyers were the ones in charge of responding to the complaints.

However, despite his denials, Ronaldinho Gaúcho appears as a defendant in a process opened by hundreds of investors who are asking for compensation of 300 million reais (about $61.5 million USD) for the losses they suffered for trusting in a financial product promoted with the image of the former soccer player.


Despite his alleged intention to clarify the accusations against him, the former Barcelona star refused to answer most of the legislators' questions, although, Ronaldinho is reportedly protected by a ruling in which Justice authorized him not to answer questions that could incriminate him.

In addition to having been threatened with being forcibly taken to Congress , the former footballers has reportedly been seized upon the order of the parliament.


Source: Pulse Sports Nigeria

https://www.pulsesports.ng/football/story/ronaldinho-scam-case-2023083118522320911

Wahala!!!

Lol

Very funny headline