Sean 'Diddy' Combs and Cassie Ventura settle sexual abuse lawsuit ...

Hip-hop mogul Sean "Diddy" Combs has settled a lawsuit brought by his ex-girlfriend, R&B singer Cassandra Ventura, that accused him of serial physical abuse, sexual slavery and rape, just a day after the allegations were made public.

Key points:Cassie Ventura says she wants to have "some level of control" over the matter's resolutionSean Combs has denied the allegations but says the lawsuit has been resolved amicablyMs Ventura had alleged significant abuse over the course of the pair's 10-year professional and personal relationship

Terms of the settlement were not disclosed.

In a joint statement with Mr Combs, Ms Ventura said she "decided to resolve this matter amicably on terms that I have some level of control [over]".

Mr Combs wrote: "We have decided to resolve this matter amicably. I wish Cassie and her family all the best."

Ms Ventura, who performs under the stage name Cassie, filed the lawsuit on Thursday (US time).

In it, she accused Mr Combs of forcing her to engage in sex acts with a succession of male prostitutes he had hired, while he watched and filmed the encounters for his own pleasure.

Ms Ventura says she wants some control over the resolution of the process.(AP Photo: Evan Agostini)

The lawsuit, filed in US District Court in Manhattan, also accused Mr Combs of regularly beating Ms Ventura over the course of a 10-year professional and romantic relationship, in which he controlled her through intimidation and by plying her with drugs and alcohol.

Ms Ventura, 37, alleged that Mr Combs raped her near the end of their relationship in 2018 when she broached the idea of leaving him.

Mr Combs strongly denied all the allegations.

Ben Brafman, a lawyer for Mr Combs, said Ms Ventura filed a lawsuit "riddled with baseless and outrageous lies" after a failed attempt to blackmail the rapper into paying her $US30 million ($46 million) by threatening to write a damaging book about their relationship.

Mr Combs, 54, is the founder of Bad Boy Records and one of the most influential producers and executives in hip hop, as well as the impresario of his own Sean John clothing line.

According to the lawsuit, Ms Ventura met Mr Combs in late 2005 when she was 19 and he was 37, signed a 10-album recording deal with Bad Boy Records within months and began a romantic relationship with him a few years later.

Reuters/ABC