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People Staff
September 19, 2007 AT 12:45 PM EDT

William Omar Landrón Rivera, better known as Don Omar, was held for more than four hours, along with his manager Juan Toro and Argentinean producer Gabriel Feldman, in the public prosecutor’s office in Santa Cruz, Bolivia, where he was alleged for committing fraud at a value of $70,000. The 29-year-old reggaeton star was released today, after appearing before a judge.

The lawsuit was brought by a company headquartered in La Paz that accused “el Don” of canceling a concert scheduled for the capital last year. According to Bolivian newspaper El deber, the artist said he called off the show because the company that hired him didn’t send the plane tickets to travel to South America.

Reports say that during the meeting with the judge, the suing company and the representatives of the self-proclaimed “king of reggaeton” came to a financial agreement, whose details have yet to be publicized. Local media sources informed that the Puerto Rican artist was “relaxed” and even “smiling and waving” while he was being escorted by police agents to appear before the judge,

The “Salió el sol” vocalist arrived to Bolivia in the hopes of doing a show in Santa Cruz as part of his Up Close tour, which is expected to hit various Latin American, U.S. and Canadian cities. Nonetheless, his concert in Bolivia was cancelled because of his arrest.

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