A former Dallas real estate executive is heading to federal prison after orchestrating a massive investment scam that drained millions of dollars from dozens of unsuspecting victims. Charles Carrier, 67, was sentenced on Wednesday to 188 months in prison for his role in a fraudulent scheme where he leveraged the well known We Buy Ugly Houses brand to lure people into fake property deals. In total, Carrier defrauded more than 80 individuals out of nearly 40 million dollars between 2018 and 2024.
The deception worked by convincing investors that their capital would be used to buy and flip residential homes. To make the deals seem legitimate, Carrier promised that the loans were secured by liens on the properties. However, court records reveal a web of lies where he failed to record the promised deeds of trust or intentionally issued multiple deeds for the same house to different people while hiding these overlaps. He eventually began selling off properties without telling his investors and forging legal documents to clear titles, all while funneling the money into his own pocket or paying back early investors to keep the pyramid from collapsing.
U.S. Attorney Ryan Raybould described the crime as a direct assault on hardworking citizens, noting that Carrier specifically targeted retirees and small business owners who trusted him as an industry expert. Federal officials emphasized that this wasn’t just about balance sheets but about destroying the life savings of Main Street families across North Texas. Along with his fifteen year prison term, Carrier has been ordered to pay nearly 25 million dollars in restitution to those he cheated.
As part of the fallout from the case, FBI leadership urged members of the community to remain vigilant when presented with high return investment opportunities. While Carrier had previously pleaded guilty to wire fraud last October, authorities hope this heavy sentence serves as a stern warning to other fraudsters operating in the region. They continue to encourage anyone who suspects they have encountered similar suspicious activity in real estate dealings to report it immediately to federal investigators.