The cryptocurrency industry includes many legitimate projects and innovations, but fraudulent schemes also plague it.
One scam allegedly swindled billions of euros from unaware clients by using famous football players as endorsers.
Devastating Losses After the Footballers’ Involvement
El Diario, a Spanish digital newspaper renowned for its investigative reporting, recently revealed that a questionable cryptocurrency project, Omegapro, defrauded clients of an astonishing €3 billion. The publication described the venture as a classic pyramid scheme, promising huge returns within 14 months of investment and enlisting several football stars as promoters.
The list includes legends such as Kaká, Luis Figo, Iker Casillas, Roberto Carlos, Fernando Hierro, Ronaldinho, Carles Puyol, and others. The report states that some players promoted Omegapro at events, while others endorsed it on social media platforms.
For those unfamiliar, Casillas, Carlos, and Hierro are some of the most iconic Real Madrid legends. They have won every major trophy with “Los Blancos” (the team’s nickname, inspired by their white kits). Meanwhile, Ronaldinho and Puyol, who played for Real Madrid’s fiercest rival, FC Barcelona, enjoyed similar success.
El Diario spoke with several scammed investors, and all cited the involvement of football players as a key reason they decided to invest. Dolores, who lost her entire savings (€18,000), shared:
“How was it supposed to be a scam? If even the footballers were involved and the company’s logo was projected on the skyscraper in Dubai!”
The newspaper reports that three of Omegapro’s top executives are already in prison, while two others remain on the run. A lawyer representing the victims has vowed to present all football stars who either directly or indirectly supported the scheme to the judge.
The scam took place in 2022, having a global impact on investors from various countries, all of whom were deceived by the promises of high returns and financial security. The fraudulent nature of Omegapro became apparent as it was revealed to be a Ponzi scheme, and its reach affected not only individual investors but also a significant number of people who had placed their trust in the project. These investors were lured by the apparent legitimacy of the venture, which used well-known football stars as endorsers to add credibility to the scheme.
It is also crucial to highlight that the Spanish Securities Market Commission (CNMV) had already flagged Omegapro as a non-transparent financial entity two years before the scam unfolded. This early warning, however, did little to prevent the widespread damage caused by the fraud. The CNMV had placed Omegapro on its list of questionable financial operations, warning the public about its lack of transparency and potential risks. Despite these warnings, the project continued to operate and deceive investors, who were unaware of the company’s dubious status until it was too late.
A Familiar Situation for Ronaldinho
One of the players listed above, Ronaldo de Assis Moreira (commonly known as Ronaldinho), has previously been associated with another dubious crypto scheme.
This incident occurred last summer when Brazilian authorities launched an investigation into Ronaldo de Assis Moreira, better known as Ronaldinho, for allegedly being involved in a controversial scam known as “18kRonaldinho.” The fraudulent scheme promised enticing but ultimately false daily returns of 2% to those who invested a minimum of $30 in digital assets, luring unsuspecting individuals with the promise of quick, high returns on “their investments.”
At first, Ronaldinho, The 2005 Ballon d’Or winner, chose not to appear in court to discuss his possible role in the operation. As the investigation unfolded, “18kRonaldinho” was eventually exposed as a Ponzi scheme, with many victims coming forward. Despite this, the former football star publicly distanced himself from the fraudulent project. He maintained that his involvement had been limited solely to promotional activities and that his name and image were used without his complete understanding or consent. Ronaldinho did not know the scam’s true nature and was unaware of how the project operated behind the scenes.
Never Miss a Match! Download our app and keep up with daily football news and updates wherever you are.
Install App
