Why Ronaldinho Faces Possible Jail Term Over Cryptocurrency Scam

• Ronaldinho was summoned to respond to a lawsuit about his pyramid scheme company
• But the World Cup winner failed to appear before Brazil's Chamber of Deputies
• The superstar could end up in prison again if he refuses to appear before the legislative body

Barcelona legend, Ronaldinho, could once again find himself facing imprisonment should he persist in his failure to attend the summons by the Brazilian Chamber of Deputies.

The two-time FIFA Player of the Year winner was expected to appear before the federal legislative body of Brazil following an investigation into one of his companies on a pyramid scheme that could have been made with cryptocurrencies.

In light of the Brazilian's non-appearance before the Parliamentary Committee, the deputy in charge of the committee, Chairman Aureo Ribeiro, has issued a renewed summons for Thursday, August 24.

According to Marca, Ribeiro mentioned that if Ronaldinho fails to comply with this subsequent summons, law enforcement may be employed to forcibly transfer him to Brasilia for questioning.

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Ronaldinho's accusation

Ronaldinho is under suspicion due to his company's involvement in a scam investigation.

The company, named '18kRonaldinho', allegedly promised fabricated daily profits of over 2% to investors who deposited a minimum of 30 dollars in virtual currencies with the company.

He was listed solely as an 'ambassador' in the records of this company, initially established as a watch and jewellery trading venture, per Sportskeeda.

However, the Brazilian Public Prosecutor's Office indicates that the company's focus shifted to a cryptocurrency-based financial pyramid scheme, for which Ronaldinho is presently accused of orchestrating fraudulent activities.

The customers of this company initiated the complaint as they started detecting numerous irregularities. A collective lawsuit representing all those impacted has filed a claim of approximately 61.2 million dollars against '18kRonaldinho' for the incurred property damages.

Ronaldinho's defence

According to his legal representatives, the former footballer has been positioned as a "victim" of the said company, per Marca.

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They assert that the company illicitly exploited his image and name without proper authorization, thereby deceiving prospective clients.

Ronaldinho's time in prison

Ronaldo de Assis Moreira, affectionately called Ronaldinho, opened up on his time in prison, Sports Brief previously reported.

The two-time FIFA World Player of the Year was detained in a facility in Paraguay in 2020 for the alleged use of a fake passport.

Easily one of the most instantly recognisable faces in football, Ronaldinho experienced one of the lowest moments in his life after he was arrested.