Investigation: Ronaldinho moved over 20 million dollars in an atypical way

The COAF report is a pivotal piece of evidence, lending significant weight to the case against Ronaldinho and his brother in Brazil

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2023-10-16 11:11:44

Image Credits: © (Ronaldinho on Instagram)

Former football icon Ronaldinho Gaúcho, together with his brother Roberto de Assis Moreira, finds themselves entangled in a web of financial controversy. Within the span of 2015 to 2021, transactions totaling a substantial R$103 million (over 20 million dollars), as revealed by the Financial Activities Control Council (COAF), have cast a shadow of suspicion leading to their indictment.

Recall that Ronaldinho was asked to testify before the Brazilian Parliament on connections to a pyramid scheme called 18k Ronaldinho. This report by COAF revolves around that incident. The scheme made audacious promises of daily returns, a whopping 2% on investments, and has consequently resulted in victims seeking a staggering R$300 million (US$ 59 million) in claims.

R$53.5 million to Ronaldinho’s accounts

Intriguingly, during these six years, R$53.5 million (US$ 10.5 million) made their way into Ronaldinho Gaúcho’s financial accounts, while R$49.9 million (US$ 9.8 million) departed from them. Notably, deposits weren’t confined to traditional banking methods; they were made in various locales, including underprivileged communities, with some transactions conducted in cash.

The COAF report serves as a pivotal piece of evidence, lending significant weight to the case against Ronaldinho and his brother. It establishes a clear connection between their activities and the 18K companies, implying a connection to the illicit financial scheme. Furthermore, the duo has been accused of being involved with the LBLV brokerage, which irregularly lured clients into the complex world of Forex trading within Brazil.

Despite their claims of being victims themselves, it appears that both brothers have maintained consistent links with the founder of 18k since as early as 2015. The intervention of the Securities and Exchange Commission (CVM) in 2019, which led to the suspension of LBVL’s investment offers within Brazil, adds another layer of intrigue to the ongoing investigations by the Federal Police (PF).

At present, the Federal Public Ministry (MPF) is carefully examining the indictment request from the CPI, with an astonishing 43 other individuals also facing accusations related to their involvement in financial pyramid schemes and crimes against the integrity of the national financial system.