Famous Footballers Called In Multi-million NFT Fraud

A fraud involving NFTs is shaking up the world of professional football. The case, with complicated financial ramifications, sheds light on the potential risks when sports celebrities and crypto innovations intersect without proper safeguards. An NFT scam shakes the professional football world. In Spain, six top-level players, including an Argentine world champion and two former FC Barcelona stars, are targeted by a judicial examination. Accused of lending their image to a blockchain project resembling a fraud, they supposedly assisted trap thousands of investors. The case, with complicated financial ramifications, exposes possible abuses when sports fame and crypto technologies intertwine without safeguards. A multi-million euro scam at the heart of Barcelona. While many crypto exchanges like Binance alert about the resurgence of frauds involving fake tokens, a judicial investigation opened by the Barcelona court notifies about a suspected fraud involving NFTs linked to the football world. Twelve grievances have been submitted in Spain; however, according to estimates, the number of victims could number in the thousands. Certainly, the business Shirtum Europa SLU, specialized in selling NFTs representing professional football gamers, which were expected to be exchangeable through an app, never saw the light of day. The facts noted by private investigators are particularly serious and accurate: NFTs sold for more than EUR450 each, based on videos and images of popular players; A platform announced but never launched, leaving investors unable to utilize their assets; Funds embezzled for personal purposes, according to the indictment; Estimated damages exceeding EUR3 million, likely with broader impact; Official charges against Shirtum and its Andorran subsidiary, along with their leaders. The latter, David Rozencwaig, Manel Ángel Torras, Marc Alberto Torras, and Manuel Morillas, are charged with eleven counts, including fraud, embezzlement, false advertising, market manipulation, and money laundering. Investigators believe they orchestrated a sophisticated operation using athletes’ fame to legitimize a technically hollow project whose aim was purely speculative. Football stars caught up in judicial chaos. Among the names mentioned in the complaint are popular international football personalities: Alejandro Papu Gómez, world champion with Argentina, Javier Saviola and Ivan Rakitić, two former FC Barcelona players, in addition to Lucas Ocampos, Alberto Moreno, and Nico Pareja. While investigators do not consider them the masterminds of the operation, their active role in promoting the Shirtum project is highlighted. The promoters of Shirtum benefited from the collaboration of the footballers, led by Papu Gómez, whose relationship with David Rozencwaig, one of the company’s founders, is emphasized. The footballers apparently lent their image and appeared in promotional videos to legitimize the platform, which bolstered investor confidence. The promised application was never launched, and the NFTs purchased to date hold no value or practical utility. The players claim they did not have a decision-making role in the company’s management; their involvement raises questions, especially regarding the boundary between promotional partnership and moral co-responsibility. The case may have significant legal consequences for Shirtum’s leaders but raises extensive concerns about the use of celebrity in the crypto space. As European regulators prepare to tighten regulations around crypto advertising, this case could establish a precedent on influencers’, including athletes’, duty of care in endorsing financial products. As hearings progress, the Shirtum scandal could well become a textbook case of potential abuses in the Web3 era.