Billionaire Stephen Cloobeck Arrested Weeks After Turning on Eric Swalwell

Billionaire businessman Stephen Cloobeck has been arrested on a felony charge of attempting to prevent or dissuade a victim or witness from testifying ... TMZ has learned.

Cloobeck was handcuffed and taken into custody by Los Angeles County Sheriff's deputies in West Hollywood Tuesday morning ... though he was released a few hours later after posting a $300,000 bond. It's unclear what case Cloobeck's arrest relates to.

Cloobeck is the former CEO of Diamond Resorts International and a prominent Democratic donor who pulled his support for disgraced and now-resigned Congressman Eric Swalwell's suspended campaign for California Governor. The pair are -- or at least, were -- longtime friends ... until Swalwell was accused of sexual assault by several women earlier this year.

Cloobeck publicly cut ties with Swalwell and even kicked him out of his California mansion after the sexual misconduct allegations ... and also wants over $1 million he spent supporting Swalwell returned.

Cloobeck himself ran for Governor of California in an effort to succeed Gavin Newsom, before dropping out in November 2025, going on to support Swalwell's run. Swalwell had stayed at Cloobeck's L.A.-area mansion before the Congressman's scandal broke ... Cloobeck told TMZ he directly confronted Swalwell, who apologized and left.