post-thumb

Diddy paid off mortgage on $48.5 million mansion before arrest

During Sean "Diddy" Combs' bond hearing this week, new details about his Miami mansion emerged. In March, federal authorities raided the hip-hop mogul's Star Island house, where they allegedly found supplies related to "Freak Offs" - elaborate performances involving female victims and male commercial sex workers that Combs supposedly arranged and filmed.

Combs was indicted by a grand jury on charges of sex trafficking, racketeering conspiracy, and illegal transportation of people for sex. Despite pleading not guilty, he was denied bail and sent to jail before his criminal trial. The judge expressed concerns about Combs potentially fleeing, committing acts of violence, or interfering with the investigation.

Combs' legal team proposed a $50 million bond package, primarily backed by his Star Island home, which they claimed was worth $48.6 million. Additionally, Combs offered the equity of his mother's Miami home as collateral. The property boasts seven bedrooms, multiple swimming pools, a spa, and a pool house with cabanas. Combs had paid off the $18.8 million mortgage on the mansion in anticipation of criminal charges.

Star Island, where Combs resides, is an exclusive neighborhood with other wealthy residents like hedge-fund billionaire Ken Griffin. The island has fewer than 50 homes, with property values exceeding the $48.5 million appraised value of Combs' mansion. Combs, who has built a billion-dollar fortune over his three-decade career, also owns a neighboring property and various businesses, including Sean John clothing label and Cîroc vodka.

Despite his immense wealth and influence, prosecutors allege that Combs used his power to intimidate and manipulate female victims. The indictment paints a picture of a lavish lifestyle and a darker side involving alleged criminal activities. As the case unfolds, the public will be watching closely to see how the legal proceedings play out for the renowned music mogul.

Share:

More from Press Rundown