FBI Raids Mansion Of Billionaire Who Bankrolled Eric Swalwell

The FBI raided a Beverly Hills mansion Tuesday morning belonging to billionaire Stephen Cloobeck, a major financial backer of former Rep. Eric Swalwell (D-CA), as federal investigators continue probing allegations of sexual misconduct against the disgraced Democrat.

Federal agents searched the property as part of the ongoing investigation involving Swalwell. The warrant affidavit remains sealed, and authorities have not publicly disclosed what investigators were seeking or whether anyone was arrested. However, senior law enforcement told the New York Post the raid was linked to a sex worker.

Cloobeck, the founder of Diamond Resorts International, was among Swalwell’s most prominent donors during his failed campaign for California governor. He contributed directly to the campaign, spent more than $1 million supporting Swalwell’s candidacy, and allowed the former congressman to stay at his Beverly Hills mansion.

The raid marks a new development in the federal investigation, which escalated in August when FBI agents seized Swalwell’s cellphone and laptop at San Francisco International Airport and searched his Washington, D.C., residence. Those searches were reported as part of a criminal investigation into allegations of sexual misconduct. 

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At least five women have accused Swalwell of sexual misconduct or sexual assault, including a former staffer who alleged he raped her when she was too intoxicated to consent. Another woman accused him of drugging and sexually assaulting her in 2018. Swalwell has denied wrongdoing. He abandoned his gubernatorial campaign and resigned from Congress in April after the allegations surfaced. He has not yet been charged with a crime in connection with the sexual misconduct investigation.

Cloobeck initially stood behind Swalwell, but that support collapsed after the allegations emerged. In April, the billionaire said he no longer allowed Swalwell to stay in his home.

“I am no longer associated with a man that takes advantage of women,” he said, adding, “I support women’s rights.”

Cloobeck had previously pursued his own campaign for California governor before stepping aside and backing Swalwell. His financial support included a maximum direct contribution of $39,200 and a private trip to France valued at approximately $31,000 in 2024, according to the Post.

The billionaire is also facing a separate legal case. Prosecutors charged him with three felony counts of attempting to dissuade witnesses from testifying and a misdemeanor count involving allegedly annoying phone calls. The charges stem from an investigation into his former fiancée, Adva Lavie, who has been accused of stealing from wealthy men she met online. Cloobeck pleaded not guilty and has denied the allegations through his attorney. 

Swalwell also faced renewed scrutiny in August after the White House released declassified FBI records detailing his past relationship with Christine Fang, also known as Fang Fang, a suspected Chinese intelligence operative. The documents showed that Swalwell told investigators he had “physical relations” with Fang on several occasions. The FBI had previously examined Fang’s activities and potential illegal campaign contributions.

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