Loan Modification Scammer Pleads Guilty To Using False Promises To Hijack Over $2.2 Million In Mortgage Payments From 500+ Unwitting Homeowners Seeking House Payment Help

From the Office of the U.S. Attorney (Santa Ana, California):

• An Orange County man pleaded guilty this morning [May 26] to federal charges relating to his operation of a fraud scheme that took $2.2 million from distressed homeowners through false promises that he could help them avoid foreclosure by obtaining modifications to their mortgages.
  
  Kevin Frank Rasher, 45, who has been in custody since his arrest at his Coto de Caza residence one year ago, pleaded guilty to 12 counts of mail fraud.
  
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  In a plea agreement filed in federal court, Rasher admitted that, between 2011 and March 2016, he falsely told distressed homeowners that he was an employee of HUD and/or an attorney, and that the homeowners had been approved for a reduced mortgage payment or interest rate. Rasher then instructed the homeowners to mail their mortgage payments to one of his businesses, claiming that he would forward the money to the homeowners’ mortgage lenders. Instead of forwarding the money to the mortgage lenders, Rasher deposited the money into his bank accounts and used it for his own personal expenses.
  
  Rasher admitted that he fraudulently obtained approximately $2.24 million from more than 500 victims.

Source: Orange County Man Pleads Guilty to Taking $2.2 Million from Distressed Homeowners in Bogus Loan Modification Scheme.