New Delhi, July 2 -- Sean "Diddy" Combs was found guilty on Wednesday (July 2) of transporting women for prostitution but acquitted on more serious racketeering and sex trafficking charges that could have put him behind bars for life. Now, the 55-year-old music mogul's legal fate hinges on several next steps as he awaits sentencing.

Immediately after the verdict, Combs' attorney Marc Agnifilo urged US District Judge Arun Subramanian to release Combs on bond. Agnifilo argued that with the sex trafficking counts off the table, Combs should no longer be held in jail pending sentencing.

"In light of the fact that Mr. Combs is no longer charged with sex trafficking ... he should be released," Agnifilo said, proposing a $1 million bond and st...