‘We buy ugly houses’ franchisee sentenced in fraud scheme

Key Points:

• Charles Carrier, former president of a Dallas-based investment firm and ex-franchisee of HomeVestors' "We Buy Ugly Houses," was sentenced to 188 months in federal prison for orchestrating a $39.5 million real estate investment fraud scheme involving over 80 investors.
• Carrier falsely claimed investor funds would be used to acquire and renovate properties, assured secured loans with first-position liens, but failed to record deeds properly, issued multiple deeds on the same properties, and concealed overlapping encumbrances.
• He sold properties without informing investors, used forged lien releases, and diverted investor money for personal expenses and unrelated business costs, leading to a restitution order of over $24 million.
• U.S. Attorney Ryan Raybould emphasized the impact of Carrier's fraud on everyday Americans, calling the sentence a warning to those who exploit Main Street investors, while FBI officials urged public vigilance against suspicious investment opportunities.
• HomeVestors clarified that Carrier's business was an independently owned franchise terminated in October 2024, correcting earlier reports that misidentified his role within the company.