The network of companies includes a company called Arion Investments LLC, incorporated in Nevada in 2006 by MF staff as a shelf company.Ī shelf company is a pre-registered company usually formed by a law firm. MF is a multinational firm that specializes in creating anonymous corporations and offshore bank accounts for customers, protecting one’s identity.Īyala arises within the research as the core of a complexly assembled corporate scheme to allegedly give rights to one of his concerts in Peru in exchange for the transfer of $350,000 to a bank account abroad. The journalistic organization obtained 11.5 million internal documents of Mossack Fonseca (MF) -including corporate and banking records, e-mails, databases, and documents of identity- which were analyzed for a year by 376 journalists from 109 media partners around the world, which include the CPI in Puerto Rico. Also, Ayala often rents the 100-foot yacht Now We Are Here from Fajardo’s Puerto del Rey marina for pleasure rides, which has an estimated weekly cost of $30,000, two sources said on condition of anonymity.ĭaddy Yankee’s name has emerged as part of a long list of the world’s richest power players and criminals linked to the Panamanian law firm Mossack Fonseca (MF) in the Panama Papers from the International Consortium of Investigative Journalists (ICIJ). By 2015, the singer, whose real name is Ramón Luis Ayala, and his wife Mireddys González Castellanos had a total of eight properties in Puerto Rico, including his residence at Vista Mar Marina and her “El Cartel” estate in Luquillo’s Hacienda Carabalí, and two properties in Florida, according to the singer under federal questioning. The financial picture these two companies have painted before the public treasury during a decade of commercial successes and world tours for King Daddy, contrasts the artist’s lifestyle. In addition to profits from concerts, there are music royalties, sponsorship from brands such as Pepsi and Reebok, appearances in radio and television programs, and sales of the artist’s merchandising, among other commercial products created by his family business empire. Only his concerts leave huge amounts of money after overhead expenses-profits fluctuating, but exceeding $200,000 for each one of them, according to documents reviewed by the Centro de Periodismo Investigativo (Center for Investigative Journalism), the CPI.
However, during this successful path, Daddy Yankee’s companies, El Cartel Records and Los Cangris Inc., have mostly reported an annual income of less than a million dollars or even losses. He has also starred in a film, and been featured in international advertising campaigns.
In addition, he has launched two record labels, and lines of clothing, perfume, watches and shoes. Since jumping from Villa Kennedy to stardom in 2004, the Big Boss and King of Reggaeton, Daddy Yankee, has sold over 20 million records, and has performed in hundreds of concerts around the world. Daddy Yankee in concert (Roberto Ferló via Visualhunt) By Omaya Sosa Pascual
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