Diddy’s home raids expose jaw dropping bank loans

Diddys home raids expose jaw dropping bank loans
Diddy’s home raids expose jaw dropping bank loans

While Diddy’s net worth is set at $1 billion, the recent information in his bank loans has raised eyebrows.

On Friday, Daily Mail reported that the music executive had taken out bank loans worth $140 million to buy the extravagant mansions in Miami and Los Angeles which were raided by the Home Security earlier this week, in connection with an alleged sex trafficking ring.

They further claimed that it may be the largest home loan amount ever taken out by a Hollywood actor.

According to reports, Diddy still owes $100 million, all of which must be repaid within the next five years, with the exception of a $23 million loan that must be paid by 2029.

The update comes after TMZ reported on Monday that federal agents raided the rapper’s home, with helicopters above the property.

“Earlier today, Homeland Security Investigations (HSI) New York executed law enforcement actions as part of an ongoing investigation, with assistance from HSI Los Angeles, HSI Miami, and our local law enforcement partners. We will provide further information as it becomes available,” a Homeland Security Investigations representative told PEOPLE in a statement.

Moreover, a video obtained by FOX11 showed Diddy’s sons Justin Combs (aged 30) and Christian ‘King’ Combs (aged 25) standing in handcuffs outside their home.

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