Brazilian football legend Ronaldinho denies participating in alleged crypto scheme

Ronaldo de Assis Moreira, the legendary Brazilian footballer better known as Ronaldinho, has denied allegations of participating in an alleged cryptocurrency scam. The crypto scheme was both named after Ronaldinho and used his likeness.

The scheme, 18k Ronaldinho, promised returns of up to 400% in less than a year, Brazilian newspaper Folha de Sao Paulo.

Ronaldinho appeared on Thursday before a legislative commission investigating the alleged ponzi scheme. During the Thursday session, Ronaldinho called himself a victim, while asserting that he had not authorized the company to use his name and likeness.

Ronaldinho claimed he signed a contract to promote a watch company called 18K Watches in 2019 and that the photos he took for that promotion had been used in the crypto-related venture without his permission.

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