Woodlands Man Guilty in Eastern District of Texas Wire Fraud Conspiracy
PLANO, Texas – A 52-year-old, The Woodlands, Texas, man has pleaded guilty to federal violations in the Eastern District of Texas, announced U.S. Attorney Joseph D. Brown today.
Arlando Jacobs pleaded guilty to conspiracy to commit wire fraud on May 14, 2018, before U.S. Magistrate Judge Kimberly Priest Johnson.
According to information presented in court, from October 2011 through April 2017, Jacobs conspired with others to create and submit fraudulent mortgage lien documents to title companies and financial institutions in order to receive transfers of funds they were not entitled to receive. Jacobs was indicted by a federal grand jury in October 2017. Co-defendant, Clarence Roland, is scheduled for trial in September 2018.
Under federal statutes, Jacobs faces up to 30 years in federal prison at sentencing. The maximum statutory sentence prescribed by Congress is provided here for information purposes, as the sentencing will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the U.S. Probation Office.
This case is being investigated by the Federal Housing Finance Agency-Office of Inspector General, Federal Bureau of Investigation, and Housing & Urban Development-Office of Inspector General. This case is being prosecuted by Assistant U.S. Attorney Christopher Eason.