Michael Prozer went on Millionaire Matchmaker looking for love. What it landed him was eight and a half months behind bars for fraud!
When Prozer appeared on the hit Bravo show, he claimed to be worth $400 million as the owner of Xchange Agent, a South American internet credit payment company. And while looking for love with the help of show host Patti Stanger, he showed off his private jet and mansion.
But his “wealth” was all a scam and as his case was about to go to trial, he pled guilty to multiple federal charges including conspiracy, and bank, wire and mail fraud.
In a Tampa, Florida courtroom Thursday, Prozer admitted to never repaying a $3 million loan to a now-defunct Georgia bank, and to paying a friend who worked for Wachovia Bank $25,000 to falsify a document claiming he had $20 million on deposit that could be used as collateral.
Assistant U.S. Attorney Sara Sweeney said that Prozer had a pattern of bilking investors in his company.
“Everybody trusted Mr. Prozer. He was very good at putting on a façade that he was wealthy,” she said.