US Information
Sean “Diddy” Combs owes just about $100 million in loan bills on a trio of mansions in Los Angeles and Miami that have been raided by way of federal brokers this week, in keeping with a document.
The embattled rapper took out 8 financial institution loans, totaling a whopping $140 million, to pay for the sprawling homes, the Day-to-day Mail reported.
The Division of Place of birth Safety searched the houses on Monday as government examine a spread of allegations, together with intercourse trafficking, in opposition to the 54-year-old track tycoon, who Forbes estimates to be price kind of $1 billion.
Combs purchased his LA house, situated within the elite Holmby Hills group, for $39 million in August 2014, in keeping with the Day-to-day Mail.
The property comprises 8 bedrooms, 11 toilets and an underwater swimming tunnel.
To fund the flowery assets, he took out two mortgages from the Financial institution of The usa — every for $25.35 million — in 2014 and Might 2021, the opening reported. Neither seems to had been paid off. The previous loan is because of be paid off in complete in August 2029 and the latter in Might 2036.
Along with the LA pad, he additionally bought two neighboring mansions on Miami Seashore’s unique Superstar Island.
For one of the crucial Miami homes, a nine-bedroom and 12 tub waterfront house he purchased from Sony Track head Tommy Mattola for $14.5 million in 2003, he’s taken out 5 mortgages totaling $68.45 million.
To this point, he paid off $42.35 million, the Day-to-day Mail reported.
The ten-bed, six tub mansion subsequent door used to be bought in July 2021 from Gloria and Emilio Estefan for $35 million. For that assets, he simplest took out a unmarried house mortgage for $20.7 million with Financial institution of The usa because of be repaid by way of August 2036.
That implies throughout Combs’s Los Angeles and Miami houses he’s taken out 8 mortgages price a whopping $139.85 million.
Kind of $97.5 million stays exceptional.
The track tycoon most probably has different homes all the way through the rustic.
Diddy has now not been charged with any crimes amid the continued investigations.
An officer with the Division of Place of birth Safety advised The Publish the case has been energetic for a number of weeks, and government “consider that there’s a anxious historical past of intercourse trafficking,” stated the Miami-based officer, who spoke underneath situation of anonymity.
A minimum of 4 Jane Does and one John Doe had been interviewed by way of New York prosecutors in connection to sex-trafficking allegations and a RICO case.