The rap mogul was declared a wanted man by police yesterday following a hit-and-run in Los Angeles in which one man died.
His lawyer James Blatt insisted he would be turning himself in, which has now happened.
The Death Row Records co-founder - who helped launch the careers of the likes of Tupac Shakur, Dr. Dre and Snoop Dogg - has now been arrested for murder and is being held in West Hollywood. The Los Angeles County Sheriff has confirmed this, adding that he is being held on $2million bail.
Lt. John Corina of the LA County Sheriff's Department also gave some insight into the incident.
At 3pm local time on Thursday, a man who fits Knight's description arrived at a burger outlet in his car and began arguing with two other people. The man purported to be Knight then backed his car into one man and then ran another person over - although there are conflicting reports about whether they were the people he was disagreeing with.
It is alleged that after this, Knight fled in a red Ford pickup. The vehicle was later recovered in a car park in West Los Angeles.
It had previously been reported that the incident took place on a movie shoot involving Ice Cube and Dr. Dre, taking place in Compton, California.
The policeman now explained that there was an earlier altercation involving the same three men, but it happened somewhere else. It is not clear whether this was the alleged film set incident, which is said to have happened as the upcoming N.W.A biopic Straight Outta Compton was being shot.
The victims, aged 55 and 51, were taken to hospital where one died and the other is being treated.
Knight's lawyer Blatt has seemingly confirmed the accident and that the music star was behind the wheel at the time - although he suggests the people who were injured were not who Knight had been disagreeing with.
"He was in the process of being physically assaulted by two men and in an effort to escape he unfortunately hit two [other] individuals," he said earlier today. "He was in his car trying to escape."
"We are confident that once the investigation is completed, he will be totally exonerated," he told Associated Press.
However, Lt. Corina has seemingly alleged the incident was intentional and that those hurt had been disagreeing with Knight.
"Looks like he drove backwards and struck the victims and drove forwards and struck them again," he told reporters. "The people we talked to say it looked like it was an intentional act."
Knight has been in trouble with the law many times before, including being sentenced to nine years in jail for a probation violation. In August he was shot six times while in a nightclub in Los Angeles.
If convicted of murder, he faces 30 years in jail.
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