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Brazil’s football legend, Ronaldinho, did not attend a scheduled parliamentary hearing focused on cryptocurrency pyramids, raising concerns that he might face legal consequences if he skips a subsequent session this month.

According to sources from and Livecoins, the Financial Pyramids Committee of the Brazilian Chamber of Deputies had expected the attendance of the ex-Barcelona player on Thursday, August 24.

His absence from the hearing provoked strong reactions from the legislators, leading to a formal summons.

Committee Chair, MP Aureo Ribeiro, expressed that should Ronaldinho not attend the upcoming hearing, he would move for a special court order, permitting the police to bring the former player in forcibly.

The intention behind the summon is to inquire into Ronaldinho’s potential ties to companies named 18kRonaldinho and LBLV. It’s speculated that 18kRonaldinho enticed investors into a questionable platform, where investments of at least $30 in cryptocurrency were claimed to yield returns of 2% or more daily.

The committee suspects the company, once involved in the watch and jewelry business, may have had an “ambassadorial” role for the footballer. The pressing question is whether Ronaldinho authorized the use of his name and likeness in their promotional efforts.

Clarifications on Ronaldinho’s Absence

While Ronaldinho was absent, his brother, Roberto de Assis Moreira, did make an appearance at the hearing. Moreira communicated that Ronaldinho has been assisting in the ongoing investigations and had already given insights to Brazil’s Public Ministry. Despite these clarifications, the MPs are adamant about Ronaldinho’s in-person statement.

This scrutiny was initiated by a complaint against 18kRonaldinho from unsatisfied investors who have since filed a civil suit. The claimants argue they are collectively owed around $61 million. Contrarily, Ronaldinho’s legal team states that the footballer too was deceived and never granted any permissions for the use of his name or image.

Interestingly, last year, Ronaldinho introduced a cryptoasset named RON, partnering with the cryptocurrency company, P00LS.

Brazilian Footballers and Cryptocurrency Ventures

Brazilian footballers’ forays into the world of cryptocurrency have garnered varied outcomes. Recently, some unidentified players reportedly invested in a $769 million crypto pyramid scheme. Moreover, this year saw two players seeking legal redress after sinking money into a suspected crypto scam, allegedly advised by a fellow footballer.