Mortgage
Sean ‘Diddy’ Combs is under investigation by federal authorities for $100 million mortgages on his mansions in Los Angeles and Miami.
Sean ‘Diddy’ Combs is facing a mortgage debt of nearly $100 million on three luxurious mansions in Los Angeles and Miami. Federal agents conducted raids on the properties as part of an investigation into allegations, including sex trafficking, against the music mogul. Combs has taken out a total of eight mortgages totaling a debt of $139.85 million, with approximately $97.5 million still outstanding. Despite his estimated net worth of $1 billion, he finds himself entangled in financial woes related to these opulent homes. Combs has not been formally charged with any crimes, but federal authorities suspect a troubling history of sex trafficking associated with the properties.
– Combs purchased a Los Angeles mansion in Holmby Hills for $39 million in 2014, with two $25 million mortgage loans from Bank of America.
– In Miami, he bought two adjacent family homes on Star Island for a total of $49.5 million, funded through a series of mortgages totaling $62.35 million, with $42.35 million already paid off.
– The investigations into Combs involve allegations of sex trafficking, with New York prosecutors interviewing individuals in connection with these claims.
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