Live: Diddy denied bond, headed back to jail

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Sean "Diddy" Combs was denied bail after a jury acquitted him on racketeering conspiracy and sex trafficking charges, but convicted him of lesser charges of prostitution, according to the Associated Press.

He will return to the infamous Metropolitan Detention Center in Brooklyn, where he will await his sentencing.

This is a breaking news report. Stay with FOX 5 NY as the story develops and watch live updates in the media player above.

The defense asked if Combs could be released to his home in Florida, as the prosecution objected, arguing that Combs presents a flight risk and claimed the defense was downplaying Combs' crimes. Both sides were asked to present their cases in a letter.

Shortly after the verdict was read, U.S. District Judge Arun Subramanian joked that he assumes Combs does not want to return to MDC. Combs shook his head very exaggeratively and then looked up with his hands together as if praying.

Combs has been jailed since his arrest in September. 

Diddy trial verdict

The backstory:

Combs was convicted of flying his girlfriends and paid male sex workers around the country to engage in sexual encounters, a felony violation of the federal Mann Act.

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Diddy verdict: Guilty on counts 3 and 5

The jury has found Sean "Diddy" Combs not guilty on counts 1, 2 and 4, and guilty on counts 3 and 5.

But following a seven-week trial, the jury of eight men and four women acquitted Combs of racketeering conspiracy and sex trafficking charges, related to complex allegations that he used his money, power and frightening physical force – including kidnapping and arson – to manipulate his girlfriends into hundreds of drug-fueled sex marathons with the men.

Diddy reacts to verdict

After the verdict was read, Combs held his hands up in a prayer motion, then looked at the jury and hugged his defense lawyer Teny Geragos.

Following the verdict, Combs continued to pump his right fist subtly, seemingly satisfied that he was acquitted on the most serious charges.

Combs knelt down, arms on the chair in front of him, after the judge exited. He then rose to face the gallery before beginning to clap. The courtroom applauded and cheered for Combs as he made his own exit.

Combs seemed buoyant arriving in the courtroom earlier Wednesday morning, a contrast to his mood a day earlier after he learned that the jury at his sex trafficking trial had reached a yet-to-be-disclosed verdict on all but one of the five charges.

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FOX 5 NY's Lisa Evers breaks down Diddy verdict

The jury found Sean "Diddy" Combs not guilty on counts 1, 2 and 4, and guilty on counts 3 and 5. The foreperson confirmed the verdict reached was unanimous. The result came on the third day of deliberations.

He smiled and clasped his hands together in the air toward his family and supporters before hugging several of his lawyers and sitting down to await the outcome of the jury's third day of deliberations.

How much prison time could Combs get?

Dig deeper:

Combs was convicted of two counts of transportation to engage in prostitution, a charge that carries a maximum sentence of 10 years in prison.

The judge could issue concurrent sentences for each guilty count, meaning that Diddy could serve his sentence for each count at the same time, which would carry a maximum 10 year sentence.

Diddy could also be sentenced for each count separately, which would carry a maximum sentence of 20 years. Sentencing is not going to happen for many months down the road, possibly October or November, experts say.

What is the Mann Act?

The guilty charges involve a felony violation of the federal Mann Act. The Mann Act is a federal law that makes it a crime to transport someone across state lines for illegal sexual activity.

The maximum penalty for violating the Mann Act is 10 years in prison and a fine.

The Source: This article includes includes the latest information from U.S. District Judge Arun Subramanian, The Associated Press and previous FOX 5 NY reporting.

Diddy Trial