Fired ‘We Buy Ugly Houses' franchisee sentenced to federal prison for fraud scheme, DOJ says

Charles Carrier, 67, was also ordered to pay $24,416,911.16 in restitution to his victims.

Charles Carrier, the one-time president of a Dallas-based investment firm and a fired former franchisee of the HomeVestors "We Buy Ugly Houses" program, was sentenced Thursday to federal prison for investment fraud and ordered to pay more than $24 million in restitution, the Department of Justice says.

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

An attorney representing HomeVestors said, “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.”

Carrier pleaded guilty about a year later, on Oct. 30, 2025, and was sentenced Thursday to 188 months in federal prison. He was also ordered by U.S. District Judge Brantley Starr to pay $24,416,911.16 in restitution to his victims.

According to court documents, the DOJ said for six years between 2018 and 2024, "Carrier orchestrated a multimillion‑dollar real‑estate investment fraud scheme in which he 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, issued multiple deeds of trust on the same properties and concealed overlapping encumbrances.

The U.S. Attorney's Office said Carrier defrauded investors out of $39,514,300.00 and "sold properties without informing investors and used forged or unauthorized lien releases to facilitate those transactions. He then diverted investor money for personal expenses, unrelated business costs, and payments to earlier investors."

“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,” said Raybould. “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. This case should serve as a warning to those who target Main Street Americans in North Texas.”

FBI Dallas Special Agent in Charge R. Joseph Rothrock said the sentence underscores the harm investment fraud can have 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.

Editor's Note: This article originally identified Charles Carrier as the president of the "We buy ugly houses" program. The DOJ said he was the president of an investment firm. Homevestors clarified that Carrier's Dallas-based investment firm was a franchisee of the program and that his franchise had been terminated.