Former footballer Ronaldinho has categorically denied any involvement in an alleged bitcoin pyramid scam in Brazil.

In testimony before a congressional committee, the retired star addressed allegations that a corporation called 18K Ronaldinho utilized his name and likeness without permission to defraud investors with false promises of large returns.

He is best renowned for his prowess with Barcelona and Paris Saint-Germain, insisted that he was not the firm’s founder or controlling partner.

Ronaldinho, wearing dark spectacles and a black beret, disclosed during the hearing that he had signed a marketing contract with a US business called 18K Watches in 2016. He was surprised to learn that photographs from this campaign had been utilized to promote 18K Ronaldinho’s activities.

The football star claimed he was unaware of the misrepresentation and had not pursued legal action since he considered himself a victim of the alleged swindle.

Ronaldinho’s appearance at the congressional session signified his response to criminal allegations filed against him in the case in February 2020. These charges were filed in response to accusations from a number of individuals who claimed damages totaling more than $61 million as a result of 18K Ronaldinho’s fraudulent actions.

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The retired footballer was arrested in Paraguay immediately after the accusations were filed for using a false passport, but he was released after more than five months.

Several times during the two-hour hearing, Ronaldinho elected to use his right to remain silent. The previous week, his brother and business agent, Roberto de Assis Moreira, testified before the same committee.