According to Cointelegraph, retired soccer star Ronaldinho Gaúcho has testified at a congressional hearing in Brazil, denying his involvement in an alleged $61 million crypto pyramid scheme called '18kRonaldinho'. The scheme promised 2% daily returns on crypto investments, and a lawsuit has been filed against the firm seeking $61 million in damages. Ronaldinho claimed he was never partnered with the company and that it used his name and image without his authorization. He argued that he was also a victim of the purported scheme. During the hearing, images were shown of 18kRonaldinho’s marketing that depicted Ronaldinho. He said the pictures were taken as part of a contract he signed in July 2019 with a subsidiary of the company that sells watches, but that contract was terminated later that year in October and was never executed. The inquiry’s president, Aureo Ribeiro, asked Ronaldinho if he intended to reimburse those who invested in the company, to which Ronaldinho said he would remain silent. He also did not answer when asked about the $61 million lawsuit. The inquiry was launched in June to investigate purported crypto pyramid schemes and is being carried out by Brazil’s lower house, the Chamber of Deputies. It’s investigating a total of 11 companies alleged by the country’s Securities and Exchange Commission to have falsely promised high returns using crypto.