S
ean "Diddy" Combs took proactive steps to protect his assets before a federal sex-trafficking indictment was handed down. Just before the charges were filed, he quietly paid off the $18.8 million mortgage on his $48.5 million Star Island mansion in Miami.
The payment was revealed during a bond hearing last week, where prosecutors alleged that Combs ran an underground ring of "Freak Offs" – wild parties featuring female victims and male sex workers. The feds raided his home in March, discovering drugs, baby oil, and lubricant allegedly used at these gatherings. Combs pleaded not guilty to charges of sex trafficking, racketeering conspiracy, and illegal transportation for sex.
Combs' defense team proposed a $50 million bond package, with the Star Island mansion as collateral. The judge denied bail, citing concerns that Combs could flee or tamper with the investigation.
By paying off his mortgage, Combs likely took advantage of Florida's Homestead Act, which protects homeowners from losing equity in their primary residence. This law shields assets like home equity and pensions from creditors.
Combs' Star Island spread is a 14,800-square-foot megamansion featuring multiple pools, a spa, and cabana-style pool houses. He purchased the seven-bedroom waterfront estate for $14.5 million in 2003 and paid off its massive mortgage last August. The defense team argued that paying off the mortgage was a way to build trust with the court.
Star Island is an elite enclave where billionaires and celebrities reside. Combs also owns the mansion next door, which he purchased for $35 million in 2021.
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