Reggaeton icon Daddy Yankee has successfully negotiated a legal agreement with his soon-to-be ex-wife, Mireddys Gonzalez, to resume control of his business entities following accusations of substantial financial mismanagement.
Allegations of Financial Misconduct
The conflict arose when Daddy Yankee, known for hits like “Gasolina” and “Despacito,” accused Gonzalez and her sister, Ayeicha Gonzalez, of withdrawing unauthorized funds from his companies, El Cartel Records and Los Cangris. He claimed they took $80 million from El Cartel Records and an additional $20 million from Los Cangris.
Legal Battle and Settlement:
- Court Actions: The singer filed motions in San Juan court demanding full control and access to all financial and corporate information of his companies.
- Judge’s Intervention: Judge Anthony Cuevas encouraged both parties to negotiate a resolution.
- Quick Resolution: After a brief private negotiation, an agreement was reached where Daddy Yankee would take back the presidency of El Cartel Records from Gonzalez, effective December 26.
Terms of the Agreement:
- Financial Safeguards: It was agreed that corporate bank accounts would remain untouched for a period, and any transaction exceeding $100,000 would require dual authorization.
- Future Involvement: Gonzalez will continue as a shareholder in the companies despite stepping down from her operational role.
Public Statements
Daddy Yankee expressed he navigated the situation with peace, asking for respect towards Gonzalez during this time. His attorney, Carlos Diaz Olivo, stressed the necessity of this control for Daddy Yankee’s career continuation. Meanwhile, Gonzalez’s attorney, Luis Sanchez Betances, countered the embezzlement claims, asserting that the funds in question were legally distributed as dividends.
Personal and Professional Context:
- Divorce Proceedings: The couple, married for 29 years and parents to two daughters (with Daddy Yankee having an additional daughter from a prior relationship), are handling their divorce in a separate legal process.
- Career Developments: After announcing his retirement and concluding a farewell tour in 2023, Daddy Yankee has still engaged with music by releasing new singles this year, showing his continued influence in the industry.
