Ronaldinho Guacho, a Ballon d’Or winner and someone who could dazzle with his skills on the pitch. However, since his retirement the former Brazil number 10 has found himself in hot water with the authorities.

Most recently the former Barcelona star was detained in Paraguay after a hotel raid which found he was travelling on a fake passport. Ronaldinho and his brother, Roberto de Assis Moreira, are were “under arrest” at the Paraguay golf course hotel they are staying at.

Since then many have begun to wonder and question why Ronaldinho, a multimillionaire who has travelled around the world for decades, would need to use a fake passport? 

Is Ronaldinho behind a Ponzi Scheme? 

It all began with his joint venture with Marcelo Lara, who created 18K Ronaldinho. The company was initially a watch shop but eventually changed to become involved with cryptocurrencies. 

However, it was soon to be revealed as a cryptocurrency Ponzi scheme. The 18K Ronaldinho company was investigated for fraud by the Brazilian SEC and Federal Prosecutors. A similar company also linked to Ronaldinho, called LBLV, was also implicated. 

Since then, many have reached out to 18K to see if Ronaldinho is aware of the investigation and his potential involvement. They failed to respond, but soon after lawyers with the football star said his contract was terminated and Ronaldinho, ‘never authorized his name to be involved in operations with Bitcoins‘.

However, despite Ronaldinho not wishing to be involved in the Bitcoin industry, he has certainly attached his names to other projects. The football star put his name on and got behind two cryptocurrency ICO projects, Ronaldinho Soccer Coin and Champion Coin. 

Whatever the case may be, Ronaldinho is certainly in big trouble. How much he knows about the dark side of the crypto industry and whether he was involved remains to be seen. Do you think he is a scammer, or just being used? Let us know below.