“No one is giving to him now. Everything is on hold,” one finance executive said.

Others expressed their befuddlement about the crisis Cuomo faces.

“I think people who like him and have been with him for a long time are scratching their heads, asking how did he put himself in that position,” Bernard Schwartz, a New York businessman who has supported Cuomo for years, told CNBC on Monday.

“Unless he comes forward and faces it completely and openly and honestly, he doesn’t deserve a fourth term, even though I like him immensely,” said Schwartz, who has given $70,000 to Cuomo’s campaign since 2019. Schwartz said he plans to call Cuomo in the coming days.