Coto de Caza man faces 120-plus felony charges in $2 million loan modification scam

Kevin Frank Rasher

On YouTube, the 44-year-old Coto de Caza man says he can help homeowners in danger of losing their homes.

“If you’re in need of foreclosure proceedings to be stopped, payments to be more affordable, and interest-rate reductions to be done, I’m your man,” he says.

But prosecutors allege that Kevin Frank Rasher, who goes by “Kevin Carter” in the video, actually was running a loan-modification scam that bilked more than 400 troubled homeowners out of $2.2 million.

Rasher was arrested at his home in May and charged in July with more than 50 felony counts including grand theft and burglary.

On Thursday, he was charged with more than 70 new felony counts including money laundering, grand theft, and financial exploitation of an elder, the Orange County District Attorney’s Office said.

Prosecutors said Rasher, from 2011 to this April, falsely represented himself as a Housing and Urban Development attorney even though he never has had a law license in California.

Prosecutors said he had a $10,200-a-month rental home in Coto de Caza, only some homeowners ultimately got loan modifications, and the alleged scam left at least three victims without their homes.

If convicted, Rasher faces up to 98 years in prison. He was being held in lieu of $2 million. Before posting bond, he must prove that the money is from a legal source.

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Coto de Caza man faces 120-plus felony charges in $2 million loan modification scam