SANTA ANA, Calif. – A man was arraigned today on additional charges including money laundering and defrauding over $2.2 million from over 400 troubled homeowners through an illegal loan modification scheme. Kevin Frank Rasher, 44, Coto de Caza, was charged on July 15, 2016, with 52 felony counts of grand theft, one felony count of second degree burglary, and one felony count of aiding false or fraudulent return, with a sentencing enhancement for property damage or loss over $65,000. Rasher was additionally charged today in an amended complaint with 69 felony counts of money laundering, six felony counts of grand theft, and three felony counts of financial exploitation of an elder. Rasher also faces sentencing enhancements for money laundering in excess of $1 million, theft in excess of $1.3 million, and white collar crime taking in excess of $500,000. If convicted, he faces a maximum sentence of 98 years in state prison. He is being held on $2 million bail and must prove the money is from a legal and legitimate source before posting bond. He is scheduled for a pre-trial hearing on Oct. 17, 2016, at 8:30 a.m. in Department C-55, Central Justice Center, Santa Ana.
Between June 13, 2011, and April 29, 2016, Rasher is accused of falsely representing himself as an official government Housing and Urban Development (HUD) attorney, even though he was never a member of the State Bar of California nor did he work for HUD. The defendant is accused of advertising services of being able to assist distressed homeowners under different aliases including Kevin Carter and Kevin Fox. He is accused of telling his clients that they have been qualified for trial loan modifications and to send payments to his company called HUD-Make Homes Affordable. Rasher is accused of sending e-mails to his victims directing them to deduct taxes, resulting in the victims filing false tax returns. At least three victims in this case lost their homes. One of the victims reported the crime to the Orange County District Attorney (OCDA) Bureau of Investigation, who investigated this case.
The defendant is accused of taking illegal advance fees from his clients, only some of whom ultimately got loan modifications, and spending the money intended for loan payments for personal use, including renting a home in Coto de Caza for approximately $10,200 a month, and spending over $20,000 a month on personal living expenses.
Between July 2, 2012, and April 29, 2016, the defendant is accused of laundering money through two financial institutions.
Rasher was arrested at his home in Coto de Caza on May 26, 2016. To watch the video of the arrest, please visit the following link:https://youtu.be/WzaRxB82xkworhttps://vimeo.com/169153679.
The defendant is also accused of publishing a video on YouTube advertising his services which can be viewed in this link:https://www.youtube.com/watch?v=AkqMu40S2xI.
The investigation in this case is ongoing. Anyone with additional information or who believes they have been a victim is encouraged to contact Supervising District Attorney Investigator Damon Tucker at (714) 648-3615
Deputy District Attorney George McFetridge of the Major Fraud Unit is prosecuting this case.
*78 New Felony Charges Filed
Orange County District Attorney / Case # 16CF1377 / September 15, 2016
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