'Kenny the Clown' Has Steve Jobs' Stolen iPad

that. Hello, a little smoky. Police have tracked down steve jobs' ipad. They tracked down the man who had it. He says he didn't steal it. Here's clayton sandell. Reporter: It's the story of a... See More

that. Hello, a little smoky. Police have tracked down steve jobs' ipad. They tracked down the man who had it. He says he didn't steal it. Here's clayton sandell. Reporter: It's the story of a billionaire. A brakin, and bozo? Welcome to silliness. Reporter: Okay, technically, kenny the clown. A familiar face on the streets of san francisco. It's really bizarre and if it weren't tragic, it would be comic. Reporter: It all began when kenny's friend, kareem, allegedly busted into the home of the late steve . His family was away. The home was being ren vited. The thief got away with diamond earrings. THERE WAS AN ipad McFar land took and allegedly gave to kenny to repay a debt. In my wildest dreams, i couldn't imagine being in possession of steve jobs' ipad. Reporter: He hah says he had no idea that it was jobs'. He might have learned his favorite apps, maybe even phone numbers of the rich and famous. There's no phone book. I didn't see any information. It was pretty nondescript. I wish I could say it had a beam to the moon. It was an ipad. Reporter: When kenny tried to use it, he stood out like a giant red nose to investigators who were tracking him. The next thing I know, the police are at my front door and I'm giving them the ipad. Reporter: Mcfarland was arrested. He's potentially facing eight years in jail. As for kenny -- I'm not smiling right now. Reporter: He's not only juggling apples but the police too. For "good morning america," clayton sandell, abc news, denver.