Brazillian football legend Ronaldinho denies involvement in alleged cryptocurrency scheme during legislative hearing

TL;DR Breakdown

  • Brazilian football legend Ronaldinho appeared before a legislative commission to deny allegations of his involvement in a cryptocurrency scam named “18k Ronaldinho,” which promised investors up to 400% returns in less than a year.
  • Ronaldinho clarified that he had signed a contract in 2019 with a watch company called “18K Watches,” and the photos taken for that campaign were used without his permission in the cryptocurrency scheme. He also revealed that he had terminated the contract in the same year.

Description

Brazilian football legend Ronaldo de Assis Moreira, commonly known as Ronaldinho, appeared before a legislative commission to refute allegations of his involvement in a cryptocurrency scam named “18k Ronaldinho.”  The scheme had promised investors returns of up to 400% in less than a year. Ronaldinho asserted that he had not authorized the use of his … Read more

Brazilian football legend Ronaldo de Assis Moreira, commonly known as Ronaldinho, appeared before a legislative commission to refute allegations of his involvement in a cryptocurrency scam named “18k Ronaldinho.” 

The scheme had promised investors returns of up to 400% in less than a year. Ronaldinho asserted that he had not authorized the use of his name or likeness for the venture, claiming himself to be a victim of unauthorized use of his image.

The backstory: Contracts and missed sessions

According to a local media report, the World Cup-winning footballer clarified that he had initially signed a contract in 2019 with a watch company named “18K Watches.” The photos taken for this promotional campaign were later used without his permission in the cryptocurrency venture. Ronaldinho also revealed that he terminated his contract with the watch company the same year. The footballer had previously missed two scheduled investigative sessions, for which he claimed he was not responsible. During one of the absences, the Porto Alegre airport was closed due to a storm, preventing his flight to the federal capital.

The legislative commission’s investigation into the alleged Ponzi scheme comes amid growing concerns about the misuse of celebrity names and likenesses in fraudulent financial schemes. In recent years, the cryptocurrency space has seen a surge in scams that leverage the fame of well-known individuals to lure unsuspecting investors. These schemes often promise high returns and use deceptive marketing tactics to gain credibility.

Ronaldinho’s denial of involvement in the “18k Ronaldinho” scheme adds another layer to the complex landscape of financial ventures that often use celebrity names. While the footballer claimed to be a victim, the legislative commission will continue its investigation to ascertain the veracity of these claims.

As the legislative commission proceeds with its inquiry, the focus will likely shift to the mechanisms that allowed the unauthorized use of Ronaldinho’s name and likeness. This could lead to stricter regulations around celebrity endorsements in financial ventures, especially those involving cryptocurrencies. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Brazillian football legend Ronaldinho denies involvement in alleged cryptocurrency scheme during legislative hearing

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月1日 09:37
Next 2023年9月1日 13:14

Related articles

  • China’s property-driven economic crisis ensues, a possible ‘Lehman moment’?

    TL;DR Breakdown The potential for a significant financial event similar to the ‘Lehman moment’ in China is becoming more pronounced. China’s property sector vulnerabilities have a global effect. China has been working on controlling the substantial borrowing of property developers through the “Three Red Lines”. Description The potential for a significant financial event similar to the ‘Lehman moment’ in China is becoming more pronounced, driven by the escalating shadow banking crisis within the nation.  Chris Wood, a global strategist at Jefferies, has raised concerns about the increasing risk of a significant financial event similar to the ‘Lehman moment’ in China. This … Read more The potential for a significant financial event similar to the ‘Lehman moment’ in China is becoming more pronounced, driven by the escalating shadow banking crisis within the nation.  Chris Wood, a global strategist at Jefferies, has raised concerns about the increasing risk of a significant financial event similar to the ‘Lehman moment’ in China. This apprehension arises within the context of a deepening shadow banking crisis within the nation. In his ‘Greed & Fear’ newsletter, Wood…

    Article 2023年8月23日
  • Best crypto memes of the day – June 13th

    #Bitcoin pic.twitter.com/eA5lUoI6Et — naiive (@naiivememe) June 13, 2023 🚨BREAKING: SEC Gary Genslar claims China is a security!!! https://t.co/3EOa81FJJ9 pic.twitter.com/1GV1gWavtm — WSB Trader Rocko 🚀🚀🚀 (@traderrocko) June 12, 2023 #BTC is up 60% this year.Bitcoiner: pic.twitter.com/xCkTdYgc3l — naiive (@naiivememe) June 13, 2023 CPI inflation: 4% Food: 6.7% Shelter: 8% Transportation: 10.2% pic.twitter.com/RPduCx1NLm — Bitcoin Magazine (@BitcoinMagazine) June 13, 2023 #Bitcoin pic.twitter.com/7nFOcPLEcz — naiive (@naiivememe) June 12, 2023 As relevant as ever 🤣 When you didn’t take profit on Friday night#Crypto #NFT #Web3 #cryptomeme #cryptocurrencies #meme pic.twitter.com/AJHDUDS0vp — Mia Brown (@MissMiaNFTs) June 10, 2023 Due to recent events 👀#NEARistheBOS #Web3 #NEARistheBOS #NEAR #cryptomeme #Memes pic.twitter.com/wyKUArraKW — Near Ukraine 🇺🇦 Guild (@nearuaguild) June 9, 2023 Meme is funny, the situation is terrible🤣#cryptomeme #cryptocurrencies #memecoins #Crypto #NFT pic.twitter.com/vaXORUp0Y6 — Mia Brown (@MissMiaNFTs) June 6, 2023 Dude WTF !!#Cryptomeme #Memes #NFT #ETH #Dogecoin #Crypto #NFTmeme #RespectMeme #Memes #cryptomemes #cryptocurrency #CryptoTwitter #Ethereum #CryptoCommunity pic.twitter.com/NdJdhkRGsm — Dollar Monkey (@dollarmonkey_) June 13, 2023 Bitcoin is a gamble ??#Memes #NFTs #ETH #Dogecoin #cryptomarket #cryptomeme #NFTmeme #RespectMeme #cryptomemes #cryptocurrency #DOGE #CryptoTwitter #Ethereum #Crypto #CryptoCommunity pic.twitter.com/B1NwLUZ4Sh — Crypto Memes (@MemesMoneyco) June…

    Article 2023年6月16日
  • Debate persists: Should FTX disclose consumer names?

    TL;DR Breakdown The crypto community continues to witness the dispute over whether or not to reveal the names of customers at collapsed crypto exchange FTX. Analysts argue that disclosing the names of the customers would “impair the debtors’ ability to maximize the value that it currently possesses.” The top 50 FTX creditors are owed an estimated $3.1 billion. Kevin Cofsky, a partner at Perella Weinberg Partners, testified in the ongoing discussion around the revelation of user names at the now-defunct crypto exchange FTX, arguing that doing so would impede efforts to retrieve assets and reduce value. Despite media organizations’ calls for public disclosure, top creditors have preferred anonymity. Sam Bankman-Fried, the CEO of FTX, is accused of many financial offenses. Media outlets advocate for public disclosure of FTX creditors’ names According to reports from top media houses, the debate over whether or not to disclose the names of consumers at the defunct cryptocurrency exchange FTX is still going on. Kevin Cofsky, a partner at the investment firm Perella Weinberg Partners, testified at a hearing on June 8 that disclosing the…

    Article 2023年6月13日
  • Crypto exchange Coinone’s former executive pleads guilty to bribery charges

    TL;DR Breakdown A former executive at Coinone, Mr. Jeon, has pleaded guilty to accepting bribes for listing certain cryptocurrencies, notably linked to a murder and kidnapping case in Seoul. The scandal, involving around 45 coins, roughly 25% of Coinone-listed tokens, has sparked a broader investigation into South Korean crypto exchanges and could significantly impact investor sentiment. The Coinone scandal comes on the heels of the LUNA collapse, heightening scrutiny from regulators and shedding light on potential market manipulation within South Korea’s $19.3 billion cryptocurrency market. A former executive of the prominent South Korean cryptocurrency exchange Coinone, known publicly as Mr. Jeon, has conceded to charges of accepting bribes amounting to nearly 2 billion won ($1.51 million) for the exclusive listing of certain cryptocurrencies on the platform. This troubling revelation, first reported by local news agency Yonhap, has shaken the cryptocurrency sphere, casting doubt over the integrity of other native cryptocurrency exchanges and triggering a nationwide investigation by Korean regulators. The charges: A deep dive into the Coinone case Jeon, who formerly directed Coinone’s listing process, was indicted for providing exclusive…

    Article 2023年5月30日
  • Hong Kong crypto race heats up as Companies vie for VASP licenses

    TL;DR Breakdown Crypto companies are gearing up for the race to capture the Hong Kong retail crypto trading market, with plans to apply for VASP licenses starting from June 1. The SFC recently declared that licensed VASPs could cater to retail investors starting June 1. The race to obtain VASP licenses in Hong Kong reflects the increasing recognition and acceptance of cryptocurrencies in the region. Several cryptocurrency companies are gearing up for the race to capture the Hong Kong retail crypto trading market, with plans to apply for Virtual Asset Service Provider (VASP) licenses starting from June 1. CoinEx, a Hong Kong-based crypto exchange, announced the launch of its local platform called BitHK and confirmed its intention to submit a VASP license application to the securities regulator on June 1. Similarly, Huobi‘s Hong Kong entity revealed that it was offering crypto trading services to local retail traders and had already submitted its VASP application to the Securities and Futures Commission (SFC) on May 29. Gate.io and BitMEX had also previously announced their applications and dedicated crypto trading services for the…

    Article 2023年6月2日
TOP