Brazilian soccer legend Ronaldinho Gaúcho is facing a high-stakes legal battle tied to his cryptocurrency venture, ’18kRonaldinho,’ which promises unrealistic profits. The $61 million legal battle revolves around the crypto firm’s failure to deliver on its commitments of generating daily earnings of over 2% from cryptocurrency investments. This case is part of a broader investigation into blockchain-related scams in Brazil.

Ronaldinho’s legal team argues that he is not the perpetrator but rather another victim. They claim that his name and reputation were exploited to attract potential investors to the alleged scam without his consent.

Ronaldinho Gaucho has denied any involvement in a cryptocurrency scam that has garnered significant national attention in Brazil. During a congressional hearing, Ronaldinho, whose real name is Ronaldo de Assis Moreira, stated that he has no connection with the company called 18k Ronaldinho Comércio e Participações Ltda.

He claimed that his name was misused to create the corporate name of this company. According to a statement by the National Congress of Brazil’s lower house, Ronaldinho mentioned that he signed a contract with the U.S. company 18k Watch Corporation back in 2016. This contract was for the creation of a line of watches featuring his image. The statement did not clarify any potential connection between the two companies, 18k Ronaldinho Comércio e Participações Ltda. and 18k Watch Corporation.

In addition to his current legal woes, Ronaldinho has previously encountered legal troubles, notably in 2020 when he and his brother Roberto were arrested in Paraguay for using counterfeit passports, leading to over five months in jail. Roberto is also under investigation in connection with this passport controversy.

Furthermore, Ronaldinho’s NFT project, launched in collaboration with INFLUXO, is currently under scrutiny.

The outcome of this legal battle remains uncertain, leaving questions about whether Ronaldinho will achieve legal victory or face serious consequences. Time is running out for the soccer icon as he navigates these legal challenges.