Ace music executive Sean “Diddy” Combs has been found guilty on two federal counts of transporting individuals for prostitution.

But Naijaonpoint reports that the music mogul was on Wednesday acquitted of the more serious charges of sex trafficking and racketeering conspiracy, following an eight-week trial in Manhattan, New York Times reports.

The federal jury, made up of eight men and four women, delivered its partial verdict after more than 13 hours of deliberation.

The guilty verdicts were tied to incidents involving two women identified as “Jane” and Cassandra Ventura.

Combs, 55, would have faced up to life in prison had he been convicted on all counts.

Combs was convicted under the federal Mann Act, which carries a maximum penalty of 10 years per count.

Naijaonpoint understands that despite convictions on two charges, the ruling is interpreted as a partial legal victory for Diddy.

The jury found Combs, who showed visible emotion as the verdicts were read, not guilty of sex trafficking both women and not guilty of racketeering conspiracy.

The music producer reportedly mouthed “thank you” to the jurors, and briefly covered his face before exhaling.

He smiled and shook hands with his lawyers, then turned to acknowledge his family with a gesture of gratitude.

Defence attorney Marc Agnifilo acknowledged Combs’ troubled history with drugs and domestic issues but argued the government had exaggerated its case.

“This is his first conviction and it’s a prostitution offense,” Agnifilo said, urging the court to allow Combs to return home to Miami Beach ahead of sentencing. “He’s not a flight risk.”

The judge is yet to fix a date for Comb’s sentencing.