Yes I've heard this rumor. And it is very odd someone like him would resort to online dating someone he is not getting anything out of physically.
Sounds like he's probably married and wants to stay that way but needs some fun and a virtual affair(s) on the side. It happened to my friend. She met a guy in a poker room and they talked on the phone, probably had phone sex or similar and then when she said she was gonna be in town for work he revealed he was not going to meet up with her and is married. Of course she went crazy and they met up. And he cut it off and she called his wife and his whole family got involved.
My friends mom was also spending a lot of time talking to someone she met while playing online games.