Clarence Roland III, Deed Fraud Scheme, Texas 2023

A federal jury in Houston has convicted a 61-year-old Dallas man for his role in a massive deed fraud scheme. Clarence Roland III, 61, was found guilty of money laundering, conspiracy to commit and committing wire fraud.

The jury deliberated for half a day before convicting Roland on all charges following an eight-day trial. The scheme, which began in 2009, involved Roland working with a co-conspirator, Arlando Jacobs, 57, of Oakland, California.

Roland frequently used the alias Joshua Stein while Jacobs used Caleb Wright or Dexter Ponzey. The two 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.

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.

Arlando Jacobs, Roland's co-conspirator, pleaded guilty in an unrelated fraud case in the Northern District of Texas and was sentenced to 51 months in prison and ordered to pay restitution of $7.6 million.

U.S. District Judge Lee H. Rosenthal presided over the trial and set sentencing for January 25, 2023. At that time, Roland faces up to 30 years for conspiracy to commit wire fraud affecting a financial institution and 20 years for wire fraud. He also faces potential fines of up to $1 million. For money laundering, he faces another 10 years as well as a fine of $250,000.

Roland was previously released on bond but was taken into custody following the conviction and will remain pending sentencing.

The FBI, Federal Housing Finance Agency - Office of Inspector General (OIG), and Housing and Urban Development - OIG conducted the investigation. Assistant U.S. Attorneys John Braddock and John Wakefield are prosecuting the case.

Source: https://www.justice.gov/usao-sdtx/pr/jury-returns-guilty-verdict-local-deed-fraud-scheme