Jun.02, 2010, 3:06 PM

The former chairman of the Republican Party of Florida was hauled away to jail today for allegedly running a scam that defrauded the GOP.

Jim Greer, 47, was arrested at his home in suburban Orlando at 10 a.m. Wednesday charged with one count of organized fraud, one count of money laundering, and four counts of grand theft.

Greer headed the Florida GOP from January 2007 until February of this year. He had been personally picked for the job by Florida Gov. Charlie Crist who also called for the investigation that led to his arrest.

Greer is accused, in part, of setting up a questionable company called Victory Strategies, LLC that would help raise funds for the GOP of Florida but then he would, allegedly, pocket the money. According to the Florida Department of Law Enforcement between February and October of 2009, Victory Strategies raised $199,254 and of that "Greer was paid $125,161 while keeping his ownership interest hidden." Investigators say much of that money "was for services that were never performed."

No one from the Florida GOP office could be immediately reached for comment. Greer is being held at the Seminole County Jail with no bail. He could face up to 30 years behind bars.

Florida Republican Party Chairman Jim Greer stepped down in January, citing the willingness of conservative party activists to "burn the house down and try to destroy the Republican Party" for his decision.