Dallas Investor Sentenced to 15 Years for $40M 'We Buy Ugly Houses' Fraud

Key points

• Sentencing: Carrier received a 188-month prison term on September 23, 2026, after pleading guilty to wire fraud in October 2025.
• Financial Impact: Prosecutors state the scheme defrauded investors of $39,514,300, with Carrier ordered to pay $24,416,911.16 in restitution.
• Modus Operandi: Carrier falsely claimed investor funds would acquire and renovate properties, but instead used money for personal expenses and to pay earlier investors.
• Deception Tactics: He failed to record promised deeds of trust, issued multiple liens on single properties, and forged lien releases to sell properties without notifying investors.

Background

This case follows a broader trend of federal sentences for financial and property-related crimes in the region, as seen in recent coverage of other high-profile fraud and possession cases. The archive notes previous federal sentences for figures like Jen Shah and Bobb’e J. Thompson, highlighting ongoing federal attention to white-collar and property crimes.

How outlets are covering it

All three outlets (Fox 4, NBC DFW, and Dallas Express) agree on the core facts: the 188-month sentence, the $40 million fraud amount, and the 80+ victims. However, they differ slightly in emphasis. Fox 4 and Dallas Express focus heavily on the emotional impact on 'Main Street' families and retirees, quoting U.S. Attorney Ryan Raybould. NBC DFW provides additional context by noting that HomeVestors terminated Carrier’s franchise in October 2024, clarifying that his firm was an independent franchisee rather than a direct program president. NBC DFW also provides the exact restitution figure ($24,416,911.16), whereas others round it to 'nearly $25 million.'

Why it matters

The case serves as a warning to investors in North Texas, illustrating how trusted real estate brands can be exploited for large-scale fraud. It underscores the importance of verifying investment opportunities and checking public records for liens and deeds, as the FBI has urged the public to report suspicious activity.

What to watch

Carrier will serve his 188-month sentence in federal prison. He is also legally obligated to pay the $24.4 million restitution to the victims, though the timeline for full payment is not specified. The case may serve as a precedent for prosecuting similar investment frauds in the region.