As soon as the world learned that Kate Gosselin is dating Jeff Prescott, the assumption was that me must be loaded.
Kate doesn't breathe in and out without looking for a way to make money from it, so you know if there's a new man in her life, he's bringing some serious cash to the relationship.
As more information about Prescott emerged last week, it began to seem unbelievable that this guy would have any interest in reality TV's most notorious mom.
Prescott is a divorced father of three who reportedly still has a very close relationship with his kids.
He's the COO and co-founder of a photography agency called Dreamstine, as well as president of the Deaf Children's Foundation, Octagon Sports Nutrition, and the Nature's Youth Fit Kids Foundation.
Oh, and did we mention he's mega rich? Sounds too good to be true right?
Well, as you might have suspected, it turns out there's more to Prescott than meets the eye.
For starters, Jeff Prescott is not his real name. He adopted that moniker in 2011, not long after filing for bankruptcy for the second time.
Yes, it seems Prescott (real name: Jeffrey A. Jones) has a long history of financial difficulties and his massive debts landed him in court in both 1993 and 2008.
The cause of the second bankruptcy may be even more discouraging than the news about Jeff's financial situation. It seems Mr. Prescott/Jones lost his shirt in a very bitter divorce with his first wife.
Ugly divorces, constant money troubles, and a shaky relationship with the truth? Hey, maybe this guy is a better match for Kate than we thought!
