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Derek Ferguson: Bad Boy CFO Details Diddy’s Operations

Sean Diddy Combs Denied Bail While Awaiting Sentencing
Sean Diddy Combs Denied Bail While Awaiting Sentencing

Derek Ferguson, who worked in several capacities for Sean Combs for nearly 20 years, including 12 years as chief financial officer for Bad Boy Entertainment, took the witness stand.

According to the report by ABC News, Derek Ferguson walked the jury through Combs’ bank accounts, financial structures, how the businesses managed cash and how employees were reimbursed for expenses on their corporate cards. Several of Combs’ assistants previously testified about purchasing supplies for so-called “freak-off” sexual encounters at Combs’ behest.

Derek Ferguson testified after Eddy Garcia, who told the jury that he received $100,000 in cash after giving Combs a thumb drive containing video footage of the 2016 Combs attack on Cassie Ventura at the InterContinental Hotel.

Court is now taking its lunch break.

Frank Piazza, who also will testify about the video, is expected to be the next witness, followed by Bryana Bongolan, who has filed a civil suit against Combs and has accused him of dangling her off a balcony, an accusation Combs has denied.

Once their testimony concludes, another alleged Combs victim, who will testify under the pseudonym “Jane,” is expected to take the stand beginning Wednesday afternoon.

With Bad Boy Entertainment CFO Derek Ferguson on cross-examination, the defense showed the jury an organizational chart of Sean Combs’ businesses, with its array of executives, two of whom, including Ferguson, were educated at Harvard Business School.

The defense contended that the organizational chart showed Combs atop an empire of legitimate, often successful ventures in music, television and liquor while he is on trial for allegedly running a criminal enterprise.

Derek Ferguson agreed with defense attorney Marc Agnifilo that it was common for people in the entertainment industry to employ personal assistants.

“I think there’s a whole laundry list of things they would possibly be involved in,” Ferguson testified.

Ferguson also testified that he agreed with Agnifilo that security personnel were part of the business.

“In order to keep him safe, they would be with him?” Agnifilo asked.

“Personal protection, yes,” Ferguson told the court.

“They were paid by the company, correct?” Agnifilo asked.

“Generally,” Ferguson testified in response.

“Their job, from what you understood, was to be in close proximity to Mr. Combs so that no one would do anything of a dangerous nature?”

“Yes,” Ferguson told the court.

Prosecutors have alleged Combs, his bodyguards and assistants carried out a racketeering conspiracy, which Combs denies.

Defense attorney Marc Agnifilo asked former Bad Boy Entertainment CFO Derek Ferguson a rapid-fire series of questions regarding his 19 years of working for Sean Combs.

“Did you see anyone help Sean Combs commit crimes?” Agnifilo asked.

“No,” Ferguson testified.

“Did you see anyone help Sean Combs commit Acts of violence?” Agnifilo asked.

“No,” Ferguson told the court.

“Did you see anyone make the company stronger through threats of violence?” Agnifilo asked.

“No,” Ferguson again told the court.

“Did you see anyone enhance Mr. Combs’ reputation or the reputation of any business through emotional, physical or sexual abuse?”

“I did not,” testified Ferguson.

“Where did you work physically?” prosecutor Christy Slavik asked Ferguson during re-direct examination.

“In the New York office,” Ferguson testified.

“At any time were you based out of Mr. Combs’ homes?” Slavik followed up.

“No,” Ferguson told the court.

“Did you ever stay in a hotel room with Mr. Combs?”

“No,” Ferguson testified in response.

Court is adjourned for the day.

Frank Piazza, a video expert, is expected to be the first witness called Wednesday, followed by Bryana Bongolan and “Jane,” the latter another alleged Combs victim who will testify under a pseudonym.

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