<div class="sg-post-des">
 The investigation centers around Ronaldinho's company '18kRonaldinho', which promised clients daily profits of over 2% through crypto investments. 
</div>
<div class="cointelegraph">
 Brazilian soccer star Ronaldinho Gaúcho could be detained by authorities to <a rel="dofollow" title="testify" href="https://thebittimes.com/tag/testify.html">testify</a> over a <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> fraud investigation in Brazil. According to local media reports, Ronaldinho failed to appear before the country's Congress over a pyramid scheme <a rel="dofollow" title="probe" href="https://thebittimes.com/tag/probe.html">probe</a> allegedly linked to one of his companies.
 The former Paris Saint-Germain, F.C Barcelona and AC Milan star failed to testify at a congressional hearing on Aug. 24, citing adverse weather conditions, and ignoring a subpoena for the second time. According to congressman Aureo Ribeiro, he will have another opportunity to testify on Aug. 31. In the event that Ronaldinho fails to appear, law enforcement officials may take him before the committee.
 Witnesses subpoenaed to appear before Congress have a duty to do so, as per Brazil's law. Witnesses who fail to comply with a subpoena may be fined and taken forcibly before Congress by the police.
 <blockquote class="twitter-tweet">
 Após ausência, CPI das Criptomoedas aprova condução coercitiva a Ronaldinho Gaúcho. https://t.co/g9OalFlKSl— Jornal O Globo (@JornalOGlobo) August 22, 2023
 </blockquote> 
 The investigation revolves around Ronaldinho's venture, '18kRonaldinho'. The company allegedly promised clients daily returns over 2% through <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> investments. A lawsuit seeking more than $61 million in damages was filed against the company for failing to return such profits. The litigation is now part of a broader investigation into <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> frauds in the country. 
 Ronaldinho's legal team argues that he was merely the company's 'ambassador', thus another victim of the alleged scam. According to them, his image and name were illegally used to deceive potential clients without the proper authorization. Ronaldinho's crypto business also includes a nonfungible token (NFT) collection, launched in collaboration with INFLUXO in 2021.
 In 2020, Ronaldinho and his brother Roberto de Assis were arrested in Paraguay for entering the country with fake passports, spending over 170 days behind bars. Assis is also involved in the ongoing <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> investigation. 
 Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.
 Magazine: How smart people invest in dumb memecoins — 3-point plan for success
 <template data-name="subscription_form" data-type="law_decoded"></template>
</div>
Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/ronaldinho-fails-to-testify-in-crypto-scam-probe-faces-possible-arrest-in-brazil-tbt60575.html">https://thebittimes.com/ronaldinho-fails-to-testify-in-crypto-scam-probe-faces-possible-arrest-in-brazil-tbt60575.html</a>

Ronaldinho fails to testify in crypto scam probe, faces possible arrest in Brazil

TheBitTimes

Other articles published on Aug 27, 2023

Avalanche Unlock Returns: The Last Time This Happened, AVAX Price Plunged 30%

Hong Kong Police Arrest 458 for $60M in Money Laundering, $15M Via Crypto!

Bitcoin’s Historical Cycles Point to Potential Surge to 44K-48K in 70 Days

Rollbit Price Prediction as RLB Becomes Best Performing Coin of the Week – Are Whales Buying?

Cristiano Ronaldo Takes A Lie Detector Test For Binance!

JPMorgan Analysts foresee Stable Crypto Market Amid Downturns

Join our free newsletter for daily crypto updates!