A federal judge has sentenced a Dallas real estate investor to more than 15 years in prison and ordered repayment of over $24 million after he admitted to running a long-running fraud that victimized more than 80 people.
Charles Carrier, 67, received the 188-month term from US District Judge Brantley Starr and must pay $24,416,911.16 in restitution, says the U.S. Attorney’s Office for the Northern District of Texas.
Carrier pleaded guilty last year to wire fraud for soliciting investor money he claimed would fund the purchase, renovation and resale of specific homes. Instead, he splurged the money on personal expenses, unrelated business costs and payments to earlier investors.
Says US Attorney Ryan Raybould,
“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. 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 Rothrcok notes that the sentence highlights the damage caused by investment fraud and urged the public to research opportunities carefully.
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