Case # 16CF1377
Date: June 2, 2016
MAN TO BE ARRAIGNED FOR DEFRAUDING $2 MILLION FROM 380 TROUBLED HOMEOWNERS THROUGH LOAN MODIFICATION SCHEME
SANTA ANA, Calif. – A man is scheduled to be arraigned tomorrow for defrauding approximately $2 million from 380 troubled homeowners through a loan modification scheme. Kevin Frank Rasher, 44, Coto de Caza, is charged with one felony count of second degree burglary, 46 felony counts of grand theft, one felony count of aiding false or fraudulent return, and a sentencing enhancement for property damage or loss over $65,000. If convicted, he faces a maximum sentence of 35 years and four months in jail. He is being held on $1 million and must prove the money is from a legal and legitimate source before posting bond. He is scheduled to be arraigned Friday, June 3, 2016, at 10:00 a.m. in Department CJ-1, Central Jail, 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. He 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 and resulting in the victims to file 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 Bureau of Investigation, who investigated this case.
Rasher is accused of never assisting his clients with 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 also spending over $20,000 per month on personal living expenses.
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/WzaRxB82xkw or https://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.