Charles Carrier agreed to plead guilty to one count of felony wire fraud that carries a potential 20-year prison sentence. The plea follows a ProPublica report detailing how Carrier bilked investors across Texas out of millions of dollars.

Federal prosecutors in Texas identified 80 victims defrauded of nearly $40 million by Charles Carrier since 2018. Though Carrier agreed to plead guilty to only one count of felony wire fraud involving one $200,000 transfer, he admitted to the broader scheme as part of the deal and agreed to pay restitution — the amount of which has yet to be determined.

The charge also carries a maximum 20-year prison sentence and the possibility of millions of dollars in fines. A federal judge will decide the sentence.

Carrier owned Dallas-based C&C Residential Properties, one of the most successful franchises in the HomeVestors chain, which is known for its “We Buy Ugly Houses” slogan. HomeVestors terminated Carrier’s franchise in October 2024, after receiving a tip that he had been defrauding investors. It has since sued him for infringing on the company’s