June 3rd Testimony

By T.L. Reigns

The Scoop Digital Newspaper: July 2025

Derek Ferguson Takes the Stand

The jury reconvened as the prosecution introduced a stipulation into evidence: during a search at Miami International Airport, law enforcement seized two cell phones from Khristina Khorram. 

The phones contained 24 contacts, including entries labeled “Eddie My Angel” and “Eddie My Angel friend InterContinental,” along with photos of IDs. Records from Signature Bank were also entered into evidence.

Derek Ferguson, who served as Sean Combs’ CFO from 1998 to 2012, testified under subpoena. As CFO, he managed both Mr. Combs’ business and personal finances. 

Ferguson confirmed that Mr. Combs owned 100% of most of his companies, including Bad Boy Productions and Bad Boy Films, though some ventures, like Bad Boy Records and Sean John clothing, had partners such as Arista and Warner. He described all the companies as highly profitable.

Ferguson detailed that he and his team oversaw budgets, salaries, and financial operations, while Mr. Combs focused on creative, marketing, and branding efforts. Mr. Combs received both a salary and company distributions. 

Ferguson also testified about accounts under entities like Janice Combs Music Inc., but stated he was unaware of any staff carrying large sums of cash. Mr. Combs used American Express for both personal and business expenses, which his companies paid.

When shown internal transactions from December 2011 totaling $190,000, $575,000, and $100,000, Ferguson did not recognize them. 

He confirmed overseeing Mr. Combs’ properties in Miami, the Hamptons, and New York, held under LLCs for anonymity, liability protection, and tax benefits.

Ferguson testified that in December 2011, $20,000 was transferred to Cassie Ventura, followed by a $20,000 transfer from Cassie’s father, Rodrick Ventura, back to Bad Boy. A few days later, the $20,000 was returned. 

This sequence corroborated Regina Ventura’s testimony about Mr. Combs allegedly demanding $20,000 to avoid releasing explicit videos of Cassie.

Ferguson stated he left the CFO role at the end of 2012 and became Chief Growth Officer for Revolt Media & TV until his departure in November 2017. Since then, he said communication with Mr. Combs was infrequent, limited to holiday greetings. 

The last text exchange occurred on September 16, 2024, when Mr. Combs texted him twice, first to say hello and then to ask for advice while visiting New York. Ferguson replied he was traveling to Charlotte, NC, and could not meet.

Cross-Examination by Mark Agnifilo

During cross-examination, Ferguson shared he graduated with an MBA from Harvard in 1990. He confirmed that BMG Music Group, owner of Arista, held a 50% stake in Bad Boy Records during a period, which restricted Mr. Combs’ autonomy through partnership agreements.

Ferguson described his motivation to work for Combs: “Coming from the Bronx, I thought more companies needed to hire people from the community. I saw that opportunity with Sean Combs. I thought it was a chance to have an impact.”

Agnifilo questioned Ferguson about marketing strategies with Diageo, specifically the targeted promotion of Ciroc vodka, asking why distribution was focused more in urban markets than more broadly.

Ferguson confirmed that during his tenure as COO of Revolt, Mr. Combs was not involved in day-to-day management, and he never saw Mr. Combs review his American Express bills.

Agnifilo asked, “You worked with Diddy for 19 years?”

Ferguson replied, “Absolutely.”

“In those 19 years, did you see anyone assist Mr. Combs in committing crimes?”

“No, sir,” Ferguson answered.

“Did you ever witness acts of violence?”

Ferguson hesitated briefly and replied, “No.”

“Any threats of violence?” Agnifilo pressed.

After a momentary pause and shifting his eyes, Ferguson responded, “No.”

“Did you ever see any coercion?”

Ferguson hesitated, stuttered, and asked, “Can you explain what you mean by coercion? My definition might differ from yours.” Agnifilo then withdrew the question.

When asked directly whether he had witnessed any emotional, physical, or sexual abuse, or sex trafficking by Mr. Combs, Ferguson responded, “No.”

Agnifilo followed up, “What did you learn from Diddy during those 19 years?”

Ferguson answered, “He taught me the value of hard work and diligence, working with talented people toward ambitious goals. I learned the difference between being successful and being number one.”

Finally, Agnifilo asked, “Do you think highly of him?”

Ferguson hesitated, made a strange expression, and bit his lip before stuttering, saying, “I can’t answer that.”

With that, cross-examination concluded.

^{Testimony read from Official Court Transcripts on Down the Rabbit Hole News on YouTube.}

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