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The Diddy trial is mostly in the books after the jury acquitted him of the most serious charges -- racketeering and sex trafficking -- and prosecutors are coming out looking like huge losers.

Diddy learned his fate Wednesday when a jury of his peers reached a verdict in his criminal case ... and they only found him guilty on a pair of lesser charges ... two counts of the Mann Act -- transportation for prostitution across state lines.

The Bad Boy Records founder skated on the bigger charges and there's no way prosecutors would have brought this case if all they had on Diddy was a prostitution offense.

Diddy was found guilty on two of five counts in his federal trial, which could land him in prison for the next 20 years, and he's not getting out on bail prior to sentencing ... but his team of lawyers are declaring victory.

The music mogul's co-lead attorney Marc Agnifilo said Diddy and the jury system won Wednesday because the jury in his criminal trial found him not guilty of racketeering and sex trafficking.

Agnifilo said RICO and sex trafficking trials are like fighting fire-breathing dragons ... and he says Diddy slayed this dragon. He was only found guilty of lesser charges related to prostitution.

We've got one staple of a freak-off outside the courthouse where Diddy just skated on the most serious criminal charges against him ... his fans are lathering themselves up with baby oil -- and it's all on video.

It's pure madness on the streets of Manhattan right now ... a bunch of folks have gathered to celebrate the Diddy trial verdict, and they busted out the baby oil.

One woman's nipples even made an appearance ... with her oiled-up breasts spilling out of her top.

The support for Cassie Ventura has been flowing in since Sean “Diddy” Combs was found not guilty of sex trafficking her ... and one star in particular showed her solidarity.

As TMZ reported ... Cassie's lawyer Doug Wigdor said his client “paved the way” for Diddy to be found guilty on counts 3 and 5 -- which are both transportation for the purpose of prostitution, AKA the Mann Act. Diddy faces a maximum sentence of 10 years each for those counts.

And not long after the news broke ... Kesha shared a message via social media, saying ... “Cassie, I believe you. I love you. Your strength is a beacon for every survivor.”

Idaho's Death Row is home to 9 prisoners convicted of murder ... and Bryan Kohberger might have been the 10th -- if he hadn't cut a plea deal with prosecutors in the face of overwhelming evidence against him.

And get this ... Kohberger would have been the worst of the worst in terms of body count compared with the other condemned inmates, but his life's been spared.

As everyone knows, Kohberger's heinous killing spree claimed the lives of 4 University of Idaho students who were found butchered inside an off-campus house in 2022. TMZ did a little digging and uncovered some interesting facts about Idaho's Death Row.

Sharay Hayes -- the exotic male dancer nicknamed "The Punisher" who testified during Diddy's trial -- says he thinks the jury made the right call on Diddy's verdict ... one he thinks he might have helped them arrive at.

We caught up with Hayes just hours after the jury found Diddy guilty on two counts of transportation to engage in prostitution -- which carries a maximum combined 20-year sentence -- but found him not guilty on the more serious sex trafficking and racketeering charges.

Sharay says he always saw this case through the lens of a toxic relationship filled with domestic violence issues ... but, he didn't think the prosecution's claims of sex trafficking held up.

Diddy might be headed off to prison, but his image will recover given a little time ... so says prominent defense lawyer Jose Baez.

The lawyer who repped Casey Anthony and Aaron Hernandez joined us on "TMZ Live" Wednesday -- hours after Diddy was found guilty on two counts of transportation to engage in prostitution and not guilty of racketeering and sex trafficking.

Jose says Diddy's going to "bounce back" from this ... especially in the music industry, where he guesses artists will be willing to overlook his convictions if it means making a hit record.

Joe Tacopina is taking a victory lap at the expense of federal prosecutors ... because he's always said the racketeering and sex trafficking charges against Diddy didn't add up -- and a jury agreed.

The famous defense attorney joined us on "TMZ Live" Wednesday and ripped prosecutors for bringing what he says were trumped-up charges against Diddy.

Joe, who's been banging this drum for months now on our weekly series on Tubi, "TMZ Presents: United States V. Sean Combs: Inside the Diddy Trial," says the evidence and testimony never pointed towards racketeering or sex trafficking.

Cassie's worried about what Diddy might do to her if the judge lets him out on bail prior to his sentencing ... and, she's asking the judge to make sure she never finds out.

The singer-songwriter submitted a letter to the court Wednesday requesting the judge not allow Diddy to head back into the world before he's sentenced for his conviction on two counts of transportation to engage in prostitution.

Cassie and her attorney, Douglas Wigdor, say Diddy is "likely to pose a danger to the victims who testified in this case" -- including Cassie herself.

The Diddy case started with prosecutors claiming he was a racketeer and sex trafficker who was blowing up cars and distributing drugs ... but now it's been reduced to transporting prostitutes across state lines -- and his team says that's not enough to keep him locked up before sentencing.

Diddy's legal team just fired off a letter to Judge Arun Subramanian outlining the reasons why they say he should be released from federal custody.

In the docs, obtained by TMZ, Diddy's defense says the jury "unambiguously rejected the government's allegations that Mr. Combs ran a years-long criminal enterprise or engaged in sex trafficking -- the core of the government's case."

Diddy had a message for his family after skating on the most serious charges in his criminal trial ... "I'm coming home."

After the not guilty verdicts for racketeering and sex trafficking were read in court Wednesday, Diddy turned around in his seat and nodded to his family and told them he would see them soon.

Diddy's mom, Janice Combs, was seated behind him in the gallery ... along with his three daughters and his sons Christian, Justin and Quincy ... plus Dana Tran, the mother of his youngest child, and a bunch of extended family members.

Diddy's team is preparing for his possible release by ramping up security at his Miami estate, where he would return if he's allowed out while awaiting sentencing … TMZ has learned.

Multiple sources familiar with the situation tell TMZ … within the last couple of hours, the music mogul's team began making arrangements for his potential return -- including increased security measures at his waterfront estate on the exclusive, guard-gated Star Island.

We’re told security has been beefed up both at his property and at the entrance to the island, as media and paparazzi have already started swarming the area in anticipation of his release.

Diddy will still need to wait to receive his sentence ... but, the jury's role in the process is done -- and, they have officially pulled an Elvis and left the building.

Multiple cameramen captured the jury leaving the federal courthouse in Manhattan in a black van with opaque windows, mostly hiding their faces. However, our reporters on the scene assure us these are the 12 people who decided the rap mogul's fate.

The van rolled out past the photogs and over a removable barrier ... before joining the rest of the busy NYC traffic.

The final verdict in the Sean "Diddy" Combs federal criminal trial is in, and it's NOT GUILTY on 3 of the 5 counts -- they acquitted him of racketeering, sex trafficking of Cassie and sex trafficking of Jane.

He's only been convicted on counts 3 and 5 ... which are both transportation for the purpose of prostitution, AKA the Mann Act. He faces a maximum sentence of 10 years for each of those counts.

Wednesday morning, about an hour after jurors arrived and went straight into the jury room, the foreman sent a note out to Judge Arun Subramanian telling him they'd reached the unanimous verdict.

Dawn Richard is absolutely unimpressed with the outcome of Diddy's trial ... calling his 2-count conviction a "disappointment" in a statement via her attorney, Lisa Bloom.

However, Bloom notes the criminal charges he faced in his federal sex trafficking and racketeering trial are different than the civil claims they filed against him, adding ... "We will continue to aggressively fight our case until we obtain full and complete justice for Dawn."

Remember ... the former Danity Kane member sued the disgraced music mogul back in September 2024 for sexual assault and battery. She also accused him of depriving her of food and sleep during her time on his MTV reality show "Making the Band."

Sean "Diddy" Combs' federal criminal trial has come to a shocking -- to some -- conclusion ... and despite his acquittal on sex trafficking charges ... Cassie Ventura vowed to keep fighting for survivors.

Cassie's lawyer Doug Wigdor said in a statement ... his client “paved the way” for Diddy to be found guilty on counts 3 and 5 -- which are both transportation for the purpose of prostitution, AKA the Mann Act. He faces a maximum sentence of 10 years for each of those counts.

Wigdor commended Cassie for filing a civil complaint in November 2023 against Diddy ...  opening the floodgates for the criminal case that, again, resulted in some convictions ... and a slew of lawsuits filed by other alleged victims.