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For years, billionaire hotel and timeshare mogul Stephen Cloobeck was one of the Democrats’ favorite deep-pocketed benefactors — until his spectacular falling-out with former Congressman Eric Swalwell sent him storming out of the party and straight into conservative arms.
Now the outspoken former Dem donor has problems of his own.
Cloobeck, founder of Diamond Resorts International, surrendered Tuesday to authorities in West Hollywood after Los Angeles County investigators issued a warrant tied to a felony allegation that he attempted to dissuade or prevent a victim or witness from testifying, according to reports.
The exact details behind the accusation remain murky, but jail records show the billionaire was released after posting a hefty $300,000 bond.
A spokesperson for Cloobeck blasted the allegations as bogus. “These charges are false, and we look forward to our day in court,” the spokesperson said.
The arrest marks another wild chapter in the political and personal implosion surrounding Cloobeck’s once-close alliance with Swalwell — a relationship that detonated publicly after sexual misconduct allegations surfaced against the California Democrat earlier this year.
Cloobeck had been backing Swalwell’s rumored run for California governor and even allowed the former congressman to stay at his Beverly Hills mansion. But once the allegations exploded into public view, the billionaire abruptly cut the cord — and apparently the guest list.
At the time, Cloobeck publicly declared he was done with both Swalwell and the Democratic Party in language that sounded less like a policy disagreement and more like a guy flipping a blackjack table in Vegas. “I am no longer supporting Eric. F—ing tell everyone I’m a libertarian. F— you, Democratic Party. I’m a libertarian now,” Cloobeck said during the fallout.
Not long after, he went even further, telling a Los Angeles TV station: “I am now a Republican.”
That political conversion alone would’ve been enough to trigger panic attacks in elite donor circles. But Cloobeck didn’t stop there. He accused Swalwell of betraying him personally and morally after the misconduct accusations surfaced. “I am no longer associated with a man that takes advantage of women,” Cloobeck told reporters. “I support women’s rights.”
Swalwell has denied the allegations against him and previously filmed a response video from inside Cloobeck’s home before the friendship went nuclear.
The whole saga has become a uniquely California political soap opera: a billionaire Democrat donor, a disgraced friendship, sexual misconduct accusations, party defections, and now a felony arrest tossed into the mix for good measure.
