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Diddy, anticipating his arrest, paid off the mortgage on his $48.5 million mansion

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https://www.businessinsider.com/p-diddy-miami-mansion-on-star-island-paid-
off-mortgage-2024-9

Diddy is in jail awaiting trial on charges of sex trafficking, 
racketeering, and illegal prostitution transportation.

The bond package proposed by his legal team gives some insight into his 
lavish lifestyle.

An appraisal report submitted to the court contains details about his 
$48.5 million Miami mansion.

New details about Sean "Diddy" Combs' Miami mansion were uncovered as part 
of his bond hearing this week.

In March, the feds raided the hip-hop mogul's Star Island house, where 
they say they found supplies, including narcotics, baby oil, and 
lubricant, for "Freak Offs" — elaborate performances between female 
victims and male commercial sex workers that prosecutors allege Diddy 
arranged and filmed.

A grand jury indicted Combs on charges of sex trafficking, racketeering 
conspiracy, and illegal transportation of people for sex. He has pleaded 
not guilty.

Combs' lawyer, Marc Agnifilo, had proposed a $50 million bond package, 
backed by the Miami home, and offered up six passports — that of Combs and 
five family members — to prove he wasn't a flight risk.

Combs was ultimately denied bail Wednesday and sent to jail before the 
start of his criminal trial. The judge argued he could try to flee, commit 
acts of violence, or meddle with the investigation into the charges 
against him.

Still, the proposed bond package offers a look into Combs' lavish 
lifestyle.

The proposed bond package was mainly backed by the singer's Star Island 
home, which his lawyers said was worth $48.6 million. Combs also offered 
the equity of his mother's Miami home as collateral, according to court 
documents.

Combs' legal team cited a third-party appraisal dated June 28, 2022, that 
valued his home, which is named Two Star and located at 2 Star Island 
Drive, at $48.5 million.

https://s.yimg.com/ny/api/res/1.2/JZdPAA8W9pLq7KQ4MF46SA--
/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTE1ODE7Y2Y9d2VicA--
/https://media.zenfs.com/en/business_insider_articles_888/d31d4988af99c100
966b529c28e804d6

Part of the appraisal report of Combs' mansion at 2 Star Island 
Drive.Advanced Research & Appraisal
According to the Miami-Dade property appraisal site, the property's market 
value is $44.3 million, while the assessed value is $30.4 million as of 
2024. He bought the house for $14.5 million in 2003.

The house has seven bedrooms and two half-bathrooms over about 14,800 
square feet of living space, according to the appraisal report. It has 
multiple swimming pools and a spa, as well as a pool house with cabanas.

The legal team also noted that Combs satisfied the $18.8 million mortgage 
on the Star Island home in August, anticipating criminal charges.

In court, Agnifilo called it a "terrible business decision" done "because 
we knew this day was coming."

"We paid off the mortgage because that is what it means to build trust," 
Agnifilo said. "And we have done these things to build trust in a real and 
substantial sense. There is nothing about this as a show. No one makes bad 
financial decisions just for a show. It was important. And I told him this 
is an important thing to do."

Star Island has many wealthy residents
Star Island, an exclusive neighborhood in Biscayne Bay that is part of 
Miami Beach, has other celebrity residents.

The hedge-fund billionaire Ken Griffin bought a property on Star Island 
for $75 million in 2022 — the most expensive of a few properties he owns 
on the island. Griffin also sold a lot on Star Island to the former 
baseball player Alex Rodriguez for $18.5 million, then bought it back for 
$45.5 million a year later.

The oval-shaped island is only 55 acres and has fewer than 50 homes 
arranged around its one central ring road.

Other homes on the island go for even more than the $48.5 million Combs' 
home was appraised at.

https://s.yimg.com/ny/api/res/1.2/rKL0a5uV8CjsGHnEcjU0RQ--
/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTE1ODE7Y2Y9d2VicA--
/https://media.zenfs.com/en/business_insider_articles_888/334ba772b027eb87
2b67150768f0aee2

Comparable sales listed in the appraisal report for Combs' Miami 
mansion.Advanced Research & Appraisal
A 10-bedroom home was listed for $68 million in August 2023. It sold for 
$57 million the next month.

Combs also owns the property next door, at 1 Star Island Drive, which he 
purchased in 2021 from the wife-and-husband singers Gloria and Emilio 
Estefan for $35 million. The appraisal provided to the court includes 
Combs' $35 million next-door purchase as a comparable sale and a few other 
dealings on and off the island. That home was not a part of the proposed 
package.

Combs built a large fortune over his 3-decade career
Over his three-decade career, Combs has amassed a fortune that has been 
pegged at $1 billion.

At its peak in the late 1990s, his Bad Boy Records brought in nine figures 
annually — enough that he could negotiate a $55 million advance from the 
label's partner, Forbes reported in 1999.

Outside music, he founded or took part in the marketing of a slew of 
businesses, including the clothing label Sean John, Cîroc vodka, and 
DeLeón tequila.

As a brand ambassador for Cîroc, Combs negotiated a deal in which he got 
paid by the case sold. According to court filings, Combs earned nearly $1 
billion throughout his 15-year partnership with Diageo, the parent company 
of Cîroc and DeLeón.

He cashed in on Sean John in 2016, selling his stake in the business for 
about $70 million, Forbes reported at the time.

The money afforded Combs a lifestyle that he often bragged about.

Besides the Star Island home, he owns a mansion in Los Angeles that he 
recently put on the market for $61.5 million.

He also has a private plane, called LoveAir, that he is trying to sell, 
according to his lawyer, as well as a jewelry collection full of diamonds 
and watches, and an art collection with works by Andy Warhol and Jean-
Michel Basquiat.

That wealth came with a huge amount of power, which prosecutors said he 
used to orchestrate his crimes.

"Combs, and other members and associates of the Combs Enterprise, wielded 
the power and prestige of Combs' role at the Combs Business to intimidate, 
threaten, and lure female victims into Combs' orbit," the indictment said.


-- 
We live in a time where intelligent people are being silenced so that 
stupid people won't be offended.

Durham Report: The FBI has an integrity problem.  It has none.

No collusion - Special Counsel Robert Swan Mueller III, March 2019.  
Officially made Nancy Pelosi a two-time impeachment loser.

Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden 
fiasco, President Trump.  

Under Barack Obama's leadership, the United States of America became the 
The World According To Garp.  Obama sold out heterosexuals for Hollywood 
queer liberal democrat donors.

President Trump boosted the economy, reduced illegal invasions, appointed 
dozens of judges and three SCOTUS justices.

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Diddy, anticipating his arrest, paid off the mortgage on his $48.5 million mansion "Leroy N. Soetoro" <democrat-insurrection@mail.house.gov> - 2024-09-24 22:48 +0000
  Re: Diddy, anticipating his arrest, paid off the mortgage on his $48.5 million mansion "186282@ud0s4.net" <186283@ud0s4.net> - 2024-09-24 23:25 -0400
    Re: Diddy, anticipating his arrest, paid off the mortgage on his $48.5 million mansion kami <f00@0f0.00f> - 2024-09-25 12:29 +0000
      Re: Diddy, anticipating his arrest, paid off the mortgage on his $48.5 million mansion "186282@ud0s4.net" <186283@ud0s4.net> - 2024-09-25 20:59 -0400

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