Coto de Caza man admits to money laundering and fraud in $2 million home loan scam
SANTA ANA — A Coto de Caza man who promised hundreds of homeowners that he would save their homes from foreclosure before bilking them out of more than $2 million pleaded guilty Friday to money laundering and fraud charges.
Kevin Frank Rasher, 46, was sentenced to 12 years in prison after pleading guilty in Orange County Superior Court to 49 counts of money laundering and one count of preparing a false or fraudulent tax return.
Less than a month ago, Rasher was sentenced to 8 years in federal prison after pleading guilty to a dozen counts of mail fraud.
The two sentences will run concurrently, with Rasher expected to serve his time in federal lockup, Orange County District Attorney’s Office spokeswoman Michelle Van Der Linden said.
Read more: http://www.ocregister.com/2017/10/13/coto-de-caza-man-admits-to-money-laundering-and-fraud-in-2-million-home-loan-scam/