Shyne Says He Was Fall Guy for '99 Shooting, But Doesn't Accuse Diddy

Shyne says he 100% was the fall guy in the 1999 NYC club shooting, for which he did time,  -- and while the shooting victim is pointing the finger at Diddy ... Shyne isn't quite going there.

The ex-Bad Boy star -- who did about 8 years in prison over the infamous incident -- spoke to the media this week down in Belize ... where he's now an elected member of the House of Representatives.

It's fascinating ... Shyne says he's tried putting the whole saga behind him, but the renewed online buzz about it -- thanks to Rodney Jones' lawsuit against Diddy -- has opened old wounds, but he's maintaining his innocence.

Shyne has been on this drumbeat for years, BTW ... insisting he didn't do it and that he took the fall for someone else -- although, he once again stops short of blaming Puff.

And yet, if you listen to him here, he does urge folks to watch recent videos posted by Natania Reuben ... the woman who was shot 25 years ago in the nightclub.

If you haven't seen them yet ... Natania has posted multiple clips where she details the saga from her POV -- she was shot in the face, and makes no bones about accusing Diddy of pulling the trigger.

Natania says she's been telling this to anyone who'll listen since it happened -- even though Diddy was never charged for doing so.

The D.A. hit Diddy with gun possession and bribery charges, related to the incident -- but he was acquitted of all charges. Shyne, meanwhile, was convicted over the shooting  ... and like we said, he served time.

You'll recall ... this all happened while Diddy and Jennifer Lopez were dating, and while she was present that night, she was not charged or accused of any crime.

Like we said, Shyne doesn't go so far as to cosign on Natania's remarks, even though he encouraged people to watch them.

He does say he wishes Diddy well and he appreciates everything Diddy has done for Belize in the years since -- so, they're certainly friendly. They even performed together last year in Europe.

Of course, the reason this is all under a microscope anew is because Diddy is being investigated by the feds over a number of things -- and he's in the crosshairs of an ongoing probe.