8:50 AM PT -- The feds do not want Diddy to be allowed out on bail. U.S Attorney Damian Williams says his office believes he is a flight risk, and is also a danger to society ... as he's allegedly resorted to violence against multiple victims.

Prosecutors point to the fact Diddy, if convicted, is facing a mandatory minimum sentence of 15 years, and a statutory maximum sentence of life in prison ... as motive enough for him to potentially flee.

Williams broke down the indictment during Tuesday's news conference ... sharing photos of the AR-15s the feds say were seized during the raids at Diddy's homes in Beverly Hills and Miami. He says the guns were found in Diddy's bedroom closet in Miami.

Diddy's the only defendant charged in the indictment, but Williams says the investigation is ongoing and they are looking into all the people in Diddy's orbit for possible criminal charges.

Williams says Diddy did not act alone and needed a lot of help to set up the "Freak Off" parties. The feds say Diddy recorded the Freak Offs and they seized the footage in the raids.

The U.S. Attorney for the Southern District of New York will hold a news conference at 11:30 AM ET to provide more details on the massive indictment of Sean "Diddy" Combs ... and TMZ will live stream the presser.

Damian Williams will speak about the indictment, which includes allegations of racketeering, sex trafficking, kidnapping, prostitution, narcotics offenses, kidnapping, arson, bribery and obstruction of justice.

Williams is also expected to address the "Freak Off" parties that are mentioned prominently in the indictment.

Diddy's family will be supporting him in the courtroom -- we saw his sons Christian and Justin earlier on Tuesday outside the federal building as they waited for his case to be called.

The indictment includes allegations Diddy lured women into his orbit under the pretense of a romantic relationship and then used force and threats of force to pressure them into engaging in sex acts with male commercial sex workers.

Although the indictment does not mention Cassie by name, it's clear she's part of the case ... the indictment references the 2016 incident where Diddy brutalized her at an L.A. hotel.

Diddy's lawyer says his client is innocent of all charges.