A womanizer music mogul, finds himself wrapped up in a sexual abuse scandal after finding true love with a beautiful singer who shapes him into a better man.

This is more of a situation, The story would be what the lead does about the allegations.

Agree with Nir Shelter: "it?s worth noting that if he is guilty I?m not sure that the audience would care much for his story."

In the current zeitgeist,? I think that renders the story DOA.

Also the original logline makes the love interest? the protagonist character rather than the mogul.? She's tasked with the stereotypical role of being his rescuer.? If she's a better person than he is, why doesn't she engineer his overthrow and take over the business herself?

You may as well place: THE END at the end of your logline. You gave away the whole story. Change a few words so that someone has a goal that will be fullfilled before the end of the movie. It must be the protagonist too. Is it the man or the woman, not sure from reading it.The reason why we want to see act 3 and how the story will be resolved.

This reminds me of Pretty Woman a little.