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Nottingham Forest star, Gustavo Scarpa loses £1m in cryptocurrency investment



Nottingham Forest midfielder Gustavo Scarpa has lost R$6.3m (£1m) which he invested in cryptocurrency and is currently trying to get his money back.

ESPN Brazil reported that the 29-year-old midfielder who spent most of his career playing in his country, invested in a cryptocurrency company called “WLJC” alongside his teammate Mayke while playing for Sao Paulo-based side Palmeiras.

Scarpa invested 6.3m Brazilian Rials (£1m) into the venture, while Mayke forked out R$4.5m (£720,000). The duo were promised returns of between 3.5 and 5 per cent per month.

The footballer filed a lawsuit after the company failed to pay the returns and also missed a deadline of August 19, 2022, to give him back his money. The lawsuit was filed against three companies he believes are responsible for the loss.

Nottingham Forest star loses £1m in cryptocurrency investment

He is seeking full reimbursement of his money and a termination of the contracts he signed. The lawsuit also asked authorities to “block and seize amounts deposited in bank accounts, movable and immovable property, financial assets allocated in cryptocurrency exchange agencies, stockbrokers, among other possible and liable assets”.

Scarpa joined Forest in January on a free transfer after his deal with Brazilian side Palmeiras expired. He has made eight appearances across all competitions for Steve Cooper’s side so far.