A 61-year-old Dallas man has been sent to federal prison following his conviction of money laundering as well as conspiracy to commit and committing wire fraud, announced U.S. Attorney Alamdar S. Hamdani.
A federal jury deliberated for approximately half a day following an eight-day trial before returning a guilty verdict on September 20, 2022, on all counts against Clarence Roland III, who used the alias Joshua Stein.
Today, U.S. District Judge Lee H. Rosenthal ordered Roland to serve 120 months in federal prison to be immediately followed by three years of supervised release. Roland was ordered to pay restitution in the amount of $3,251,897.41. A money judgment in the amount of $1,984,642.09 was also entered. In handing down the sentence, the court noted Roland knew what he was doing was illegal and he pocketed the proceeds.
In 2009, Roland began working with co-conspirator Arlando Jacobs, 57, Oakland, California, in a deed fraud scheme to cancel and challenge mortgage loans held in the name of Jacobs or others. During this time, Roland frequently used the alias Joshua Stein, while Jacobs used Caleb Wright or Dexter Ponzey.
According to testimony, they solicited and received the help of other co-conspirators to establish over 11 business entities or shell companies and office spaces with mailing addresses in Houston, The Woodlands and Katy to carry out the scheme.
The jury heard that Roland and co-conspirators fraudulently acquired real property by manipulating and filing fraudulent deeds and other documents. Roland sold the properties and received profits from the sales. The original mortgage liens were not paid off and the mortgage holders were ultimately defrauded. Some title insurance companies were forced to pay buyer claims who had acquired the title when purchasing the real property Roland sold to them.
Jacobs pleaded guilty in advance of trial in an unrelated fraud case in the Eastern District of Texas and was sentenced to 51 months in prison and ordered to pay restitution of $7.6 million.
Related Federal Cases
- Clarence Roland III, Wire Fraud, Texas 2022 · Texas
- Georgia Phillips, Medicaid Fraud Scheme, Texas 2024 · North Carolina
- Alan Leschyshyn Sentenced to 235 Months for $23M Fraud Scheme, Hous… · Oklahoma
- Mario Herrera, Bribery and Data Fraud, Texas 2024 · Oklahoma
- Obinna Obioha, Hacking and Wire Fraud Scheme, NY 2024 · New York
Key Facts
- State: Texas
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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