Michael Prozer III, who once appeared on the reality TV show “The Millionaire Matchmaker” and later pleaded guilty to federal fraud charges, has been sentenced to eight years in federal prison.
Prozer appeared on season two of the hit Bravo series that matches single wealthy people with potential spouses.
He was sentenced Thursday to eight years and six months in prison after pleading guilty in April to federal charges that he conspired to commit mail, wire and bank fraud, and made a false statement to a financial institution.
The 38-year-old Tampa, Fla., man admitted he swindled Park Avenue Bank, a now-defunct Georgia institution, out of a $3 million loan that he never repaid. Prozer paid a co-defendant $25,000 to falsify a document claiming he had more than $21 million on deposit that could be used as collateral.
No such funds existed, according to the local U.S. Attorney’s Office.
During his appearance on the Bravo show, Prozer, who is the father of two young boys, told television audiences that he was the millionaire CEO of Xchange Agent Inc., an online payment service for people in South America.
He claimed to own a mansion and private jet.
Prior to his guilty plea, Prozer had maintained his innocence, but said in court on Thursday that he took “responsibility for what happened,” the Tampa Tribune reported.
Fedor Stanley Salinas, 36, of Bethesda, Md., also pleaded guilty in April to conspiracy to commit mail, wire and bank fraud. Salinas, who was a financial specialist at Wachovia Bank in Langley Park, Md., provided the false letter of credit stating Prozer had more than $21 million on deposit, the U.S. Attorney’s Office said.
Salinas was sentenced to 27 months in prison, after which he will be deported to Ecuador, the Tribune reported.
The Associated Press contributed to this report.