Billionaire Timeshare Mogul Arrested Amid Controversy

Stephen Krubeck, the billionaire founder of Diamond Resorts International, was arrested on Tuesday after severing ties with former Representative Eric Swalwell. This decision followed allegations of sexual misconduct. Krubeck turned himself in at the Los Angeles Sheriff’s Department in West Hollywood after a warrant was issued for his arrest.

He faces felony charges for attempting to discourage a victim or witness from testifying. The details surrounding these allegations are still murky. After posting bail amounting to $300,000, Krubeck was released, according to jail records. Fox News Digital has tried to get comments from both the Sheriff’s Office and Krubeck regarding the situation.

A spokesperson for Krubeck stated, “These charges are false, and he looks forward to his day in court.”

Previously a gubernatorial candidate, Krubeck had supported Swalwell’s campaign but distanced himself after the allegations surfaced and he left the Democratic Party. In a recent statement, he declared, “I no longer support Eric. I’m going to tell everyone that I’m a Libertarian. You Democrats. I’m a Libertarian now.” He also mentioned switching his political allegiance to the Republican Party.

Swalwell, for his part, has denied the accusations in a video recorded in Krubeck’s home. At that time, Krubeck indicated he had expelled Swalwell from his mansion, citing a breakdown of trust between them. “I no longer have anything to do with men who take advantage of women,” Krubeck commented to reporters, affirming his support for women’s rights.