News: Diddy Owes $996K For Being A Bad Boy In NYC

Sunday, Jul 25, 2010 10:19AM

Written by Cyrus Langhorne

Bad Boy Records CEO Sean "Diddy" Combs reportedly owes nearly $1 million to New York City for illegally plastering promotional posters throughout the Big Apple.

Diddy is one of many artists the city plans to pursue in efforts to clear debts.

City officials say at least some of the heat is on music mogul Sean (Diddy) Combs, hip-hop legend Doug E. Fresh, Mickey Rourke's plastic surgeon and Remy Ma's defense lawyer. They're among thousands of people and companies that collectively owe $1.9 billion, the city says. "We are going to find these people," vowed Finance Commissioner David Frankel. "We're going to turn them upside down by their ankles and we're going to shake them until the money comes out of their pockets." Among those at the top of the city's scofflaw lists are many who dispute their debts, including Diddy's Bad Boy Entertainment, which faces a $996,000 bill for illegally plastering posters around the city. (New York Daily News)

A year ago, Diddy made headlines for reportedly owing back taxes in Atlanta.

The Internal Revenue Service has rapped the knuckles of music mogul Sean "P. Diddy" Combs, whose Atlanta eatery Justin's Restaurant owes $7,373 in federal taxes, records show. The restaurant, named in honor of his son, opened in 1998 and specializes in upscale Southern and Caribbean cuisine. An identically named restaurant in New York City closed a few years ago. (TMZ)

Last summer, Diddy ranked No. 2 on Forbes' annual Hip-Hop Cash Kings list.

Jay-Z raked in a reported $35 million starting in June 2008, from touring and other business ventures. Although his earnings were down substantially from last year's $85 million, he still managed to edge out fellow mogul Sean "Diddy" Combs, who came in at No. 2, with $30 million. Third place went to Kanye West with a respectable $25 million, earned through profits from his '808's and Heartbreaks' album and 'Glow In The Dark' tour. 50 Cent landed at No. 4 with approximately $20 million, a steep drop from $100 million in 2007. (The Boom Box)

In a recent interview, Diddy proclaimed his dominance in the music industry.

"I was the first on the jet. I was the first running the marathon. I was the first donating millions of dollars. I was the first. I was the first with the 10 million records sold. I was the first with the label. I was the first with the renegotiations. F*ck a Forbes list--I was on the cover of Forbes. There is going to be someone that will pass me, but as long as I'm on the court, they are not going to be badder than me, because there is too much catching up to do...There is not one muthaf*cka that's here now who is going to outwork me. That is not going to happen, not right now. Maybe if I slow down, but to this day, no one can f*ck with me when it comes to getting busy and working." (XXL Mag)

Check out some recent Diddy footage below:

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