Scott Michael Campbell Indicted On Federal Fraud Charges In Multi-Million Dollar Investment Scheme
NEW YORK (March 13, 2025) – A federal grand jury has indicted Scott Michael Campbell, a 52-year-old former financial advisor from Manhattan, on 17 counts of wire fraud and money laundering, the U.S. Attorney’s Office for the Southern District of New York announced today. The indictment alleges that between January 2021 and November 2024, Campbell orchestrated a Ponzi-like scheme, defrauding over 80 investors of approximately $12.3 million. According to the charging document, Campbell promised high-return investments in a fictitious real estate development fund, using false documents and fabricated financial statements to lure victims, many of whom were retirees. Instead of investing the funds, prosecutors say Campbell diverted the money to personal accounts, using new investor payments to pay earlier investors and fund luxury expenses, including a private yacht charter and a penthouse lease in SoHo. The scheme unraveled when the U.S. Securities and Exchange Commission initiated a civil investigation, leading to a freeze on Campbell’s assets in November 2024. Campbell was arrested at his residence early this morning and is scheduled for an initial appearance before U.S. Magistrate Judge Katherine Parker at 2:00 p.m. EST. If convicted, Campbell faces up to 20 years in prison per count. The case remains under investigation by the FBI’s New York Field Office.