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Six Footballers Under Investigation for $3.4M NFT Crypto Fraud in Spain

World Cup Footballers Face Criminal Probe Over Shirtum NFT Crypto Fraud Allegations
Six Footballers Under Investigation for $3.4M NFT Crypto Fraud in Spain
Written By:
Kelvin Munene
Published on: 

Six professional footballers, including renowned World Cup winners and former Barcelona and Sevilla players, are under criminal investigation in Spain. Authorities allege the group helped promote Shirtum, a crypto and NFT project that defrauded investors of at least $3.4 million. 

Prosecutors claim that the Shirtum platform exploited the players' fame to promote digital collectibles tied to football image rights, yet it never provided a functional product or permitted buyers to trade the NFTs. This case underscores the escalating risks at the crossroads of sports and cryptocurrency investments.

The Fifth District Court of Barcelona has opened an investigation following 12 investor complaints that were filed. According to the victims, they bought non-functional NFTs with the in-house token of Shirtum, $SHI, expecting to have unique access to football memorabilia. The platform, however, shut down without notice, rendering the investors useless assets. According to local reports, the court is also investigating Spanish and Argentine businessmen who allegedly masterminded the scheme.

Shirtum Platform Used Player Endorsements to Attract Investors

Prosecutors have named prominent figures in the case, including World Cup winners “Papu” Gómez and Lucas Ocampos, along with ex-Barcelona players Ivan Rakitić and Javier Saviola, plus Nico Pareja and Alberto Moreno. The complaint details that Shirtum’s operators built credibility by presenting the footballers as company founders and public ambassadors. Shirtum priced some NFTs above $513 each, but investors never saw a functioning marketplace.

Investigators say the project’s core was a complex corporate structure across Spain and Andorra, allegedly designed to avoid tax and limit personal liability. According to financial reports filed with the court, significant funds flowed out of investor accounts but never reached a legitimate product rollout. Shirtum cited two “massive crypto thefts” in 2022, claiming the company suffered from a hack, but no police reports were ever filed to back up these claims.

Victims claim that the Shirtum promoters misused the money by using it for personal needs instead of developing the promised platform. The footballers involved engaged in the systematic removal of Shirtum-related content on their social media following the platform's collapse. Prosper Lamothe, an economics professor who has studied financial flows, called the company's structure opaque and tax evasive.

Also Read: How To Identify Fraud Crypto Investing Traps

Crypto Partnerships in Spanish Football Under Scrutiny

The Shirtum scandal brings renewed focus to the volatile relationship between Spanish football and cryptocurrency firms. Spain’s 2021 ban on gambling sponsorships created a gap that many crypto companies rushed to fill. However, multiple La Liga clubs now report issues with crypto sponsors, including defaulted payments and legal disputes.

The crypto industry watchers, including Mohith Agadi of Fact Protocol, sound the alarm that high-profile endorsements may provide misleading credibility to dubious projects. With the further integration of crypto into sports, Spanish clubs and investors are under greater risk due to the poorly regulated partnerships. Transparency and due diligence are what the Shirtum case highlights as the football and crypto worlds collide.

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