Sean "Diddy" Combs acquitted of sex trafficking and racketeering, convicted on prostitution-related counts

Sean "Diddy" Combs was found guilty Wednesday of transportation to engage in prostitution in his federal trial in New York, but the music mogul was acquitted of the more severe charges of racketeering conspiracy and sex trafficking.

Combs was convicted of two counts of the prostitution-related charge. Each count carries a maximum sentence of 10 years in prison. Prosecutors said they'd be seeking a lengthy prison sentence for Combs on the two convictions.

When the verdict was announced, Combs turned around, kneeled down on the ground, put his hands on his chair and prayed. He and his family erupted in loud applause, cheering loudly and whistling.