Diddy sold a luxury house at a low price to cover legal costs
Following his arrest on alleged criminal charges, rapper P. Diddy decided to sell assets below their value to manage mounting legal costs.
According to sources disclosed to Radar OnlineDiddy or real name Sean John Combs, 54, is said to be desperate to sell his residence in Miami, United States at a price much lower than the market value.
The singer sold a Star Island mansion in Miami for US$18.8 million that was supposed to be worth US$48.5 million.
The move was made to pay legal fees that continued to rise because there were new allegations where the Judge in Michian alleged that the singer had failed to pay a civil fee of US$100 million to the court.
The amount was to be paid to settle allegations that Diddy sexually assaulted a 27-year-old man in a fight that took place in Detroit.
On September 16, Diddy was reportedly arrested by the police at a hotel in Manhattan, United States.
The New York Federal Court rejected Diddy’s bail application and instead ordered the 55-year-old singer to be held in jail pending the trial of the case. This famous musician is embroiled in various controversies including being linked to the ‘Freak Off’ scandal where he allegedly cheated on women. – Agency
