Scott Campbell, the so-called "playboy conman," was arrested Wednesday in Flagler County.
Investigators with the Department of Financial Regulation released details of his arrest Thursday. Campbell has been charged with one count of grand theft in connection with this scheme.
According to a statement by the DFR, Campbell is accused of selling fictitious investments to dozens of women he had met primarily online under the guise of a romantic relationship.
Local 6 first broke the story about Campbell in May, when victims spoke out about their dealings with the supposed music industry insider.
After meeting women on sites like Match.com, he would convince them to fork over money for his musical talent search business similar to American Idol.
One source told Local 6's Mike Holfeld, that Campbell would always brag about “all the millions he had.”
In an email to Local 6 the source said Campbell created an image of wealth and success claiming to own a yacht, helicopter and a prosperous recording studio.
“He would always go (around) town with an entourage of at least 5 or 6 people walking behind him,” he said.
Major Tod Goodyear of the Brevard County Sheriff’s Criminal Division, said many of Campbell’s alleged victims filed for bankruptcy after handing over cash from 401-k’s and second mortgages.
One woman took $30,000 out of her 401-K to invest in Campbell’s talent show in 2011.
Now she is paying back the loan and Campbell keeps making excuses.
“He needs to be stopped before he ruins other people’s lives,” she said.
At least 23 women have come forward accusing Campbell of fraud and larceny. One victim took a second mortgage on her home so she could invest $70,000.
He is being held in the Flagler County jail on a $500,000 bond.