The Diddy trial is mostly in the books after the jury acquitted him of the most serious charges — racketeering and sex trafficking — and prosecutors are coming out looking like huge losers.

Diddy learned his fate Wednesday when a jury of his peers reached a verdict in his criminal case … and they only found him guilty on a pair of lesser charges … two counts of the Mann Act — transportation for prostitution across state lines.

The Bad Boy Records founder skated on the bigger charges and there’s no way prosecutors would have brought this case if all they had on Diddy was a prostitution offense.

Diddy is still in custody because a judge denied him bail pending sentencing … but he came out a winner today and prosecutors came out big losers … and it will be interesting to see the sentence the judge imposes.

Jurors in the federal criminal trial of Sean “Diddy” Combs in NYC are now deliberating after receiving instructions from Judge Arun Subramanian for more than an hour Monday morning.

After the jury of eight men and four women was seated, Subramanian went through each of the charges as the gallery looked on … telling jurors “Actions may speak louder than words.”

The judge told jurors they should decide for themselves how credible they found each witness … “The evidence is the testimony,” he said while reminding the jurors to take note of the acts of everyone they considered to be participants in the events presented.

After seven weeks of testimony from ex-girlfriends and former employees, the defense and prosecution teams rested their cases Friday. Diddy declined to testify during the trial, and the defense did not call any witnesses, after closely cross-examining each of the prosecution’s witnesses.

The judge told the jury that witnesses who were given immunity should be “examined with greater care” than ordinary witnesses.

He noted … “Certain witnesses were permitted to be identified by pseudonyms” — referring to “Jane” and “Mia” — and “That should bear on your evaluation of credibility.”

Judge Subramanian also pointed out, “The defendant had no responsibility to testify, and he did not. You must not attach any significance to that.”

The judge also addressed related activities brought up in the trial, including arson, bribery, witness tampering and distribution of narcotics. And he noted charts and summaries won’t be available in the jury room … though each juror will have a copy of the judge’s instructions with them.

Diddy‘s trial has focused a lot on drugs and drug usage over the past few days … including when Cassie‘s friend Bryana Bongolan testified that she previously purchased drugs for her — and pictures of what appear to be drugs have now been entered into evidence.

In text messages, the prosecution says were sent from Bongolan to Cassie, Bongolan says she’s going to stop by Cassie’s location in a few minutes to drop something off — later telling her she’s outside.

About 30 minutes later, Cassie texts Bryana, “he wanted me to ask if ur sure that’s moly bc it didn’t taste like anything.”

Later on in the texts, Bryana sends a picture to Cassie of a white powder laid out on a light blue box with a straw next to it, writing, “Tryna get inspo LOL bam asleep don’t worry.”

In another conversation, she sends a photo of a plastic baggie full of what look like pills and crushed white powder. She writes, “Can I get a amen.”

As you know … Bryana told the court she would purchase OxyContin for Cassie — who she says paid her back for it — and, on one occasion, she says she bought cocaine for Diddy.

The Diddy trial just wrapped the 11th day of witness testimony … and today we saw the defense move for a mistrial and get denied.

LAFD arson investigator Lance Jimenez was testifying about the Molotov cocktail incident involving Kid Cudi‘s Porsche — Cudi previously testified he thought it was done at Diddy’s behest — when the mistrial drama unfolded.

Jimenez told the jury fingerprints connected to an alleged trespassing at Kid Cudi’s house and the Molotov cocktail incident were destroyed by someone at LAPD who was not involved in the investigation … and that it wasn’t normal protocol.

Diddy’s defense team asked for a mistrial, claiming prosecutorial conduct … with defense attorney Alexandra Shapiro claiming prosecutors were “trying to plant the idea with these jurors that Mr. Combs had something to do with the destruction of these fingerprints.”

The judge rejected the request and told the jury to ignore the questions and testimony about fingerprints.

LAPD officer Christopher Ignacio also testified … telling the jury about responding to the break in at Kid Cudi’s house in December 2011. He said he saw a black Escalade parked outside Cudi’s when police pulled up with lights and sirens on, and the SUV drove off. He ran the license plate and the registration tied back to Diddy’s Bad Boy Productions Inc.

Cudi and former Diddy employee Capricorn Clark previously testified Diddy broke in to Kid Cudi’s house in a jealous rage after finding out Cudi was dating Cassie.

Outside of court, Cassie gave birth to her third child with husband Alex Fine … a couple weeks after taking the witness stand with a big baby bump.

Male escort “The Punisher” went on CNN and apologized to Cassie for his involvement in freak-offs with her and Diddy … he previously testified about the trio’s sexual encounters.

The day’s final witness was celebrity stylist Deonte Nash, who testified he started working for Diddy and Cassie around 2008, moving his way up from intern to stylist.

Nash told the jury he witnessed Diddy threaten Cassie’s career and threaten to release sex tapes of Cassie. He also testified he saw Diddy get violent with Cassie, including one incident where Diddy made Cassie’s head bleed. Nash said he didn’t report the violence because he feared retaliation.

Nash also testified Diddy came to his home once looking for Cassie, even peeking inside his oven. He said Cassie and Diddy would go to a hotel pretty much every week and that Cassie would bring a bag packed with sex toys. He said Cassie told him she didn’t want to go to the hotel with Diddy but went because Diddy wanted her to go. Nash testified that on Cassie’s 29th birthday she told him Diddy was mad she didn’t want to go to a hotel for a freak off.

Diddy’s defense did not finish with cross examination before the judge sent the jury home for the day and Nash will be back on the stand first thing Thursday morning.