DALLAS, September 29 — Charles Carrier was sentenced to 188 months in federal prison for a real estate investment fraud scheme that defrauded more than 80 investors. U.S. District Judge Brantley Starr handed down the sentence in the Northern District of Texas on Thursday. Carrier had pleaded guilty on October 30, 2025, to orchestrating a scheme in which he falsely told investors their money would be used to buy and renovate specific residential properties secured by first-position liens.
According to the Department of Justice and court documents, Carrier failed to record promised deeds of trust, issued multiple deeds of trust on the same properties, concealed overlapping encumbrances, sold properties without informing investors, used forged or unauthorized lien releases, and diverted investor funds for personal expenses, unrelated business costs, and payments to earlier investors in a Ponzi-like manner. Carrier, 67, was the former president of a Dallas-based investment firm and a terminated franchisee of HomeVestors of America’s ‘We Buy Ugly Houses’ program.
His franchise was terminated in October 2024, approximately one year before his guilty plea. An attorney representing HomeVestors clarified that Carrier’s business was independently owned and operated at the time of the franchise but was terminated in October 2024, correcting an earlier misidentification that had labeled him as president of the ‘We Buy Ugly Houses’ program itself. The DOJ affirmed Carrier was the president of an investment firm, not the HomeVestors program.
In addition to the prison sentence, Judge Starr ordered Carrier to pay $24,416,911.16 in restitution to his victims. United States Attorney Ryan Raybould described the scheme as a ‘direct assault on hardworking Americans’ who trusted Carrier with their savings, emphasizing he targeted Main Street families, retirees, and small business owners.
FBI Dallas Special Agent in Charge R. Joseph Rothrock echoed the sentiment, urging the public to research investment opportunities carefully and report suspicious activity. Investors will note the scale of the harm: Carrier defrauded more than 80 people out of $39,514,300.00 between 2018 and 2024.
The figure that matters is the restitution ordered, which represents a portion of the total losses. The bottom line is that Carrier’s fraud exploited trust in real estate investments, using false promises of secured returns while hiding overlapping liens and misusing funds. The case underscores risks in alternative investment offerings, particularly those marketed to individuals seeking stable returns outside traditional markets.
Looking ahead, authorities will monitor compliance with the restitution order and continue to warn investors about due diligence in private real estate deals. The case may prompt further scrutiny of franchise-related investment offerings and the oversight of individuals operating under branded programs.
Sources
- Dallas real estate investor sentenced to over 15 years in federal …
- Former Dallas 'We Buy Ugly Houses' franchisee sentenced to federal…
