Sean “Diddy” Combs could today walk out of prison after spending the last 10 months in federal jail.

A jury cleared Combs, 55, of three out of five federal charges including racketeering conspiracy and sex trafficking, which could have seen him jailed for life.

The music mogul was convicted on two counts of transportation for prostitution, which carries a far lesser sentence than the more serious charges he was accused of.

The verdict is a partial victory for the hip-hop mogul, who has spent 10 months vehemently denying the allegations.

This afternoon, a judge will consider whether Combs should be granted bail and allowed to return to his Florida home until his sentencing.

“In light of the fact that Mr Combs is no longer charged with sex trafficking... he should be released,” Marc Agnifilo, his defence lawyer, told the court.

Prosecutors oppose Combs being released on bail over his potential to obstruct justice and commit further crimes.