'Millionaire Matchmaker' Scam Artist Pleads Guilty To Fraud

Chris Greenhough

A scam artist who posed as a millionaire to appear on the Bravo reality TV series 'The Millionaire Matchmaker' has pleaded guilty in court to conspiracy to commit mail, wire and bank fraud, and to making a false statement to a financial institution.

It was revealed that Michael Anthony Prozer III is not only not a millionaire - he's also a con man. By his side in court was Fedor Stanley Salinas, a Maryland banker who helped Prozer by producing fraudulent bank statements to make him appear wealthy. Like Prozer, he pleaded guilty.

Prozer appeared on 'The Millionaire Matchmaker' in 2009, where he posed as the CEO of Xchangeagent Inc., a supposed PayPal system for South America and Europe. According to the LA Times' Show Tracker blog, he "definitely failed to impress his date with his jet ski skills."

Prozer's scams finally backfired when he was arrested after attempting to defraud a Georgia bank. He tried to take out a short-term business loan backed up with $21 million in collateral that didn't really exist, and the bank lost $3 million in the con.

Prozer's open plea means he has no agreement with prosecutors on a sentence. A judge scheduled his sentencing for August 9.

ABC News reports Prozer's guilty plea was a surprise to those observing the trial - a jury had reportedly already been selected for the upcoming trial. Prozer could be looking at a "multiyear" sentence in federal prison for his deeds. And I believe jet skis may be in short supply in such places.

[Via Tampa Bay Times]