Attorney General Anthony G. Brown announced that Clarence Woods, Jr., 62, of Glen Burnie pleaded guilty to felony theft and securities fraud for defrauding 16 victims of more than $573,000 through a Ponzi-style scheme and other thefts, with sentencing set for October 30, 2025.
Per the news release distributed on Wednesday, September 17: “Attorney General Anthony G. Brown today announced the guilty plea of Clarence Woods, Jr., 62, of Glen Burnie, Maryland, who was charged with felony theft scheme and securities fraud. Woods, a former financial services provider, used a Ponzi-style fraudulent investment scheme to defraud 13 investors out of over $380,000. Additionally, Woods stole over $200,000 through a separate theft scheme, where he fraudulently transferred money out of a client’s bank account and deposited it into his own personal bank account. In total, he owes $573,161 in restitution to 16 victims.
“When financial professionals abuse the trust Marylanders place in them, they don’t just steal their clients’ money – they steal their peace of mind and threaten their families’ financial futures,” said Attorney General Brown. “Our Office will always hold accountable those who exploit their position to defraud Marylanders and jeopardize their financial security.”
On September 4, 2025, Woods pleaded guilty to two counts of felony theft scheme over $100,000 and one count of fraud in connection with the offer and sale of securities before the Honorable Mark W. Crooks of the Circuit Court for Anne Arundel County. Sentencing will occur on October 30, 2025.
In making today’s announcement, Attorney General Brown thanked his Criminal Division and Securities Division, specifically Fraud and Corruption Unit Chief Alexander Huggins, Investigative Auditor Aimie Haupt, and Assistant Attorney General Ryan Cornell, who prosecuted this case. Finally, Attorney General Brown thanked State’s Attorney for Anne Arundel County Anne Colt Leitess for her assistance with this prosecution.”
