Shakira reaches deal to avoid 8 years in prison, maintains innocence in tax fraud case

Shakira chose not to go to trial in her tax evasion case and reached an agreement with Barcelona prosecutors on Monday. In doing so, she will avoid an eight-year prison sentence.

In a statement obtained by Fox News Digital, the singer explained, "While I was determined to defend my innocence in a trial that my lawyers were confident would have ruled in my favor, I have made the decision to finally resolve this matter with the best interest of my kids at heart who do not want to see their mom sacrifice her personal well-being in this fight." I admire tremendously those who have fought these injustices to the end, but for me, today, winning is getting my time back for my kids and my career. Caroline Thayer is an entertainment writer for Fox News Digital. Follow Caroline Thayer on Twitter at @carolinejthayer. Story tips can be sent to caroline.thayer@fox.com.

"Throughout my career, I have always strived to do what’s right and set a positive example for others. That often means taking the extra step in business and personal financial decisions to procure the absolute best counsel, including seeking the advice of the world’s preeminent tax authorities such as PricewaterhouseCoopers International Limited, who advised me from the start, and subsequently Ernst & Young Global Limited," the "Hips Don't Lie" singer said.