
© Minyanville
There is Earth-shattering news in the world of reality television this week. It seems that a contestant misrepresented himself in order to get on a show for his proverbial 15 minutes of fame. Tampa resident Michael Prozer, a self-proclaimed internet mogul worth $400 million, managed to pass through the ironclad vetting process of
Millionaire Matchmaker.
As it turns out, Prozer doesn't own a mansion and a private jet -- as he'd claimed on a 2009 episode of the
Bravo series. Appearing as the CEO of Xchangeagent Inc., an online payment service
à la PayPal that operates in 36 countries, Prozer scammed producers into setting him up with one of the dating service's gold diggers-in-waiting.
But Prozer didn't just defraud producers of a reality show, he took his con all the way to the bank. With the help of Fedor Stanley Salinas, a financial specialist at Wachovia Bank, Prozer was able to
fake deposits worth over $21 million in an account in order to procure a $3 million short-term business loan from Park Avenue Bank in Valdosta, Georgia. Prozer and Salinas set up meetings, both on the phone and in-person, between Park Avenue Bank and people posing as Wachovia employees, who verified his account status.
No such collateral existed, the loan was never repaid, and the Park Avenue Bank took the $3 million hit. Last year, it was forced out of business.
Comment: A peaceful way forward for the global revolution!