Dallas fraudster gets 15 years for $39m 'We Buy Ugly Houses' investment scam

Charles Carrier, a former HomeVestors franchisee in Dallas, was sentenced to 188 months in federal prison for defrauding more than 80 investors out of $39.5 million.

Dallas fraudster gets 15 years for $39m 'We Buy Ugly Houses' investment scam

Former Dallas franchisee jailed 15 years for real-estate investment fraud

Charles Carrier, the former president of a Dallas-based investment firm and a terminated franchisee of the HomeVestors "We Buy Ugly Houses" programme, has been sentenced to 188 months in federal prison for investment fraud, nbcdfw.com reports. U.S. District Judge Brantley Starr also ordered Carrier to pay $24,416,911.16 in restitution to his victims.

Ryan Raybould, United States Attorney for the Northern District of Texas, said the 67-year-old had carried out a "multimillion-dollar real-estate investment fraud scheme that scammed more than 80 investors."

Carrier pleaded guilty on 30 October 2025 and was sentenced shortly thereafter.

Six-year scheme targeting retirees and small business owners

Court documents show that between 2018 and 2024, Carrier solicited funds from more than 80 investors by falsely claiming their money would be used to acquire and renovate specific residential properties. He repeatedly assured investors their loans were secured by first-position liens, even though he frequently failed to record the promised deeds of trust and issued multiple deeds of trust on the same properties, concealing overlapping encumbrances.

The U.S. Attorney's Office said Carrier defrauded investors out of a total of $39,514,300. He sold properties without informing investors, used forged or unauthorised lien releases to facilitate those transactions, and diverted investor funds to cover personal expenses, unrelated business costs, and payments to earlier investors.

HomeVestors distances itself from convicted franchisee

An attorney representing HomeVestors clarified the company's relationship with Carrier. "Mr. Carrier's business was an independently owned and operated franchise of HomeVestors of America at one time; however, Mr. Carrier and his franchises were terminated in October 2024," the attorney said.

Prosecutors warn of broader harm to communities

Raybould described the fraud as a direct attack on ordinary Americans. "Financial fraud isn't just numbers on a ledger — it's a direct assault on hardworking Americans who trusted an alleged expert with their savings," he said. "Carrier didn't just target investors; he preyed on Main Street families, retirees and small business owners through a sham 'We Buy Ugly Houses' scam. Through his lies and deceit, Carrier earned every month of his 15-year sentence."

Raybould added that the case should serve as a warning to others who target residents across North Texas.

FBI Dallas Special Agent in Charge R. Joseph Rothrock said the sentence underscores the harm investment fraud can inflict on victims and their communities. "We urge the public to carefully research any investment opportunity and to contact us immediately if they encounter suspicious activity," Rothrock said.

Source: Google News MT — Crime (en)