The Houston-based attorney joined us Monday on "TMZ Live," and we asked him what we should be expecting from his forthcoming lawsuits against Diddy ... specifically, if other major celebs would be named as defendants too.

Buzbee says a bunch of famous people everyone has heard of are going to be sued by his law firm in the coming weeks ... and he's already sent out demand letters, giving these celebs the chance to pony up a lot of money to settle and avoid a public lawsuit.

And, get this ... Buzbee says some celebs have already settled.

The way Buzbee sees this case ... anyone involved with Diddy's alleged sexual assaults should be on the hook here ... and that includes folks who participated in the assaults, helped them happen, went to parties where they knew people were being drugged and assaulted, saw crimes being committed and remained silent, or helped cover up the assaults.

We asked Buzbee straight up if these upcoming lawsuits are just about people trying to cash in by claiming to be one of Diddy's alleged victims ... and he says his firm is doing a lot of due diligence to weed out folks looking to hop on the gravy train.

Buzbee is representing 120 victims ... but he says his firm fielded a few thousand calls from people claiming they were victimized by Diddy.

The first lawsuits, Buzbee says, will be filed this week ... but they won't involve celebs -- instead, they will name corporate entities who helped facilitate Diddy's alleged crimes ... and the celebrity defendants will come later. He's also claimed Diddy sexually abused a 9-year-old boy.