One embraced by fat Scottish landowner (5)
I believe the answer is:
laird
'scottish landowner' is the definition.
(I've seen this before)
'one embraced by fat' is the wordplay.
'one' becomes 'i' (Roman numeral).
'embraced by' means one lot of letters goes inside another.
'fat' becomes 'lard' (lard is a kind of fat).
'i' going within 'lard' is 'LAIRD'.
(Other definitions for laird that I've seen before include "Scottish estate-owner" , "Scottish squire" , "He's landed in Scotland" , "Big landowner" , "Scot. landowner" .)