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Texas businessman gets 13 years in federal prison as feds seize his 90+ exotic cars to repay victims
Nicolas Cage’s 2000 cult classic Gone in 60 Seconds took a minute. Clayton Lloyd Iley will be gone for 160 months.
The 41-year-old Stephenville, Texas, businessman was sentenced to more than 13 years in federal prison for wire fraud and aggravated identity theft, the U.S. Attorney’s Office for the Northern District of Texas said. Prosecutors say he paid for more than 90 exotic and collector vehicles with money from his scheme.
Iley ran an insurance brokerage out of Cross Plains, Texas, and from January 2020 through May 2026, prosecutors say he also moved money through two companies he controlled, including Spartan Global Security, which did business as “Black Eagle PMC” and offered private military contracting services.
Texas businessman gets 13 years in prison, must sell 90 collector cars to pay back fraud victims
(U.S. Air Force photo by Airman 1st Class Joseph Barron)
FORT WORTH, Texas – A Stephensville businessman’s fraudulent scheme has left him with more than a decade of prison time, and he will have to give up over 90 collector vehicles in order to pay the victims back.
Clayton Lloyd Iley, 41, who operated an insurance brokerage business called Clayton Texas Legacy Insurance Group, LLC, was sentenced to more than 13 years in prison for wire fraud and identity theft, according to the U.S. Department of Justice.
Prosecutors said Iley offered a scam loan program to multiple victims, telling them he could invest their funds in the program he knew did not exist. He collected over $2 million from this and used the funds to execute other parts of his scheme, the DOJ said.
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