DALLAS – United States Attorney for the Northern District of Texas Ryan Raybould announced that the president of a Dallas-based real estate investment firm was sentenced today to more than 15 years in federal prison for carrying out a multimillion‑dollar real‑estate investment fraud scheme that scammed more than 80 investors.
Charles Carrier, 67, was sentenced today by U.S. District Judge Brantley Starr to 188 months in federal prison and ordered to pay $24,416,911.16 in restitution to his victims. Carrier pleaded guilty to wire fraud on Oct. 30, 2025.
Through his years-long plot, Carrier intended to defraud investors out of $39,514,300.00 by falsely representing that their funds would be used to acquire, renovate and resell specific residential properties.
“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 U.S. Attorney Ryan 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.”
“This sentence underscores the harm investment fraud inflicts on victims and communities. The FBI remains committed to pursuing those who exploit the trust of others for financial gain, “said FBI Dallas Special Agent in Charge R. Joseph Rothrcok. “We urge the public to carefully research any investment opportunity and to contact us immediately if they encounter suspicious activity.”
According to court documents, from at least 2018 through 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.
Carrier further 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.
The FBI Dallas Field Office conducted the investigation. Assistant U.S. Attorney Douglas B. Brasher from the Fraud Section prosecuted the case.
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Source: U.S. Attorney’s Office — Northern District of Texas — U.S. Department of Justice press release.