Billionaire Stephen Cloobeck was arrested Tuesday in the Los Angeles, California area on felony charges.
Cloobeck, who previously ran for California governor and donated to Democratic campaigns, was arrested on charges of attempting to prevent or dissuade a victim or witness from testifying.
Cloobeck was arrested before 11 a.m. on Wednesday and was held at the West Hollywood station on a $300,000 bail, according to Los Angeles County Sheriff’s Department records.
Cloobeck dropped out of the California governor race in November to support his friend, former Rep. Eric Swalwell, donating over $39,200 to the campaign.
Coolbeck had said he was running for governor of the Golden State because he couldn’t find a single qualified candidate, and he funded the campaign with his real estate fortune. A University of California, Berkeley poll from last year, however, found the billionaire received support from less than half of 1% of registered voters.
Following Swalwell’s sexual assault allegations and April resignation, Cloobeck announced he was leaving the Democratic Party.
“I am no longer associated with a man that takes advantage of women,” Cloobeck told reporters. “I support women’s rights.”
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Earlier this year, Cloobeck was blocked from the prediction market platform Kalshi for trading on the California governor’s race. Clookeck attempted to bet on Swalwell’s campaign, and at an earlier date, placed bets on his own bid for the state’s high seat.
If convicted of the felony charges, Cloobeck could face up to three years in prison.