We Buy Ugly Houses Scam and Court Conviction

According to the official U.S. Department of Justice announcement, the 67-year-old president of C&C Residential Properties used the prominent HomeVestors of America "We Buy Ugly Houses" brand to run a multi-million dollar Ponzi scheme targeting Main Street families, small business owners, and retirees.

Details of the Fraud Scheme

• The Crime: Carrier pleaded guilty to wire fraud in October 2025. Federal prosecutors established that since 2018, he defrauded more than 80 investors out of nearly $40 million.
• The Tactics: Carrier tricked victims into believing they were investing in a legitimate real estate empire. Instead, he ran a classic Ponzi scheme, issuing multiple loans against the same properties—some of which he did not even own—and using new investor funds to pay back older ones.
• Personal Use: Rather than funding real estate acquisitions or renovations, the DOJ noted that Carrier used investor capital for personal expenses and to sustain the fraudulent operation.

The Sentence and Penalties

U.S. District Judge Jane J. Boyle handed down the following sentence:

• 15 years in federal prison.
• An order to pay $25 million in restitution to his victims.