Back in March Bad Boy Entertainment CEO, Sean 'Diddy' Combs', homes in LA and Miami were raided by Homeland Security Agents [click here if you missed that].
Now insiders confirm Diddy is the subject of a federal criminal investigation...
From CBS News
Sean "Diddy" Combs' legal team was notified last week by federal authorities in the Southern District of New York that he is a subject of an ongoing criminal investigation, according to two sources familiar with Combs' ongoing legal troubles.
The same sources confirmed that a federal grand jury is hearing evidence as part of the investigation but there is no indication that charges are imminent.
A spokesperson for the U.S. Attorney’s Office declined to comment. Combs' lawyers did not respond to a request for comment.
A subject of an investigation is someone who is within the scope of a criminal investigation, according to legal experts. An individual is designated a target when prosecutors likely intend to seek an indictment from the grand jury against the person.

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