A Covington man allegedly faked a home invasion to cover up that he brutally stabbed his wife, according to King County prosecutors. Kyle Wayland Cathcart, 41, is charged with premeditated first-degree murder in connection with the May 1 death of his wife, Jodi Cathcart. The charge carries two enhancements: being armed with a deadly weapon and allegedly committing the crime near their three young children. King County prosecutors requested the court set bail at $60 million — much higher than is typically requested, even for a murder charge. Kyle Cathcart allegedly told his wife that a $6 million lawsuit settlement was going to transfer into his bank account the day of the killing, which prosecutors argue would provide him with substantial resources to post bail and flee the state (defendants in Washington are required to pay only 10% of their bond to be released from jail). Law enforcement did not find his passport when executing a search warrant of his home.…