Sean ‘Diddy’ Combs owes nearly $100M in mortgages on luxury LA, Miami  mansions raided by feds: report

US News

Sean “Diddy” Combs owes nearly $100 million in mortgage payments on three mansions in Los Angeles and Miami that were raided by federal agents this week, according to a report.

The embattled rapper took out eight bank loans, totaling $140 million, to pay for his sprawling properties, the Daily Mail reported.

The Department of Homeland Security raided homes Monday as authorities investigate a series of allegations, including sex trafficking, against the 54-year-old music mogul, who Forbes estimates is worth about $1 billion.

Combs purchased his Los Angeles home, located in the upscale Holmby Hills neighborhood, for $39 million in August 2014, according to the Daily Mail.

The estate includes eight bedrooms, 11 bathrooms and an underwater swimming tunnel.

Diddy’s Los Angeles home, which has eight bedrooms and 11 bathrooms, was purchased in 2003. Connellan / MEGA
DHS searched homes Monday as authorities investigate a series of allegations. Connellan / MEGA

To finance the complex property, he took out two mortgages from Bank of America – each for $25.35 million – in 2014 and May 2021, the outlet reported. Neither appears to have been paid. The first mortgage is expected to be fully repaid in August 2029 and the second in May 2036.

In addition to the Los Angeles pad, he also purchased two neighboring mansions on Miami Beach’s exclusive Star Island.

For one of the Miami properties, a nine-bedroom, 12-bathroom waterfront home that he bought from Sony Music executive Tommy Mattola for $14.5 million in 2003, he took out five mortgages totaling $68.45 million.

Diddy’s homes in Los Angeles and Miami were raided by federal agents on Monday. Getty Images

So far, he has paid $42.35 million, the Daily Mail reported.

The neighboring 10-bed, six-bathroom mansion was purchased in July 2021 from Gloria and Emilio Estefan for $35 million. For this property, he only took out a single home loan of $20.7 million from Bank of America, which was to be repaid by August 2036.

Diddy is under investigation after several people came forward with allegations of sex trafficking. REUTERS

This means that in Combs’ homes in Los Angeles and Miami, he took out eight mortgages worth a whopping $139.85 million.

About $97.5 million remains unpaid.

The music mogul likely owns other properties across the country.

Diddy has not been charged with any crimes during ongoing investigations.

A Department of Homeland Security officer told the Post that the case has been active for several weeks and that authorities “believe there is a disturbing history of sex trafficking,” said the Miami-based officer, who spoke on condition of anonymity.

At least four Jane Does and one John Doe have been questioned by New York prosecutors in connection with sex trafficking allegations and a RICO case.

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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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