FORT WORTH, Texas — United States Attorney for the Northern District of Texas, Ryan Raybould, announced that a federal court sentenced Stephenville businessman Clayton Lloyd Iley, 41, to more than 13 years in federal prison for wire fraud and aggravated identity theft on Oct. 1. These offenses arose from a scheme wherein he illegally obtained credit cards and offered a scam loan program to victims.
“Clayton Iley’s conduct caused real financial and emotional harm to the victims he targeted, many of whom trusted him with their personal information and hard‑earned money,” said U.S. Attorney Ryan Raybould. “This sentence reflects our commitment to holding fraudsters accountable. Those who steal from members of our community, manipulate them with fabricated schemes and misuse their identities will face significant federal consequences.” “This 160-month sentence holds the defendant accountable for a multi-year fraud scheme that exploited members of our communities,” said FBI Dallas Special Agent in Charge R. Joseph Rothrock. “The FBI will continue to work in close coordination with our partners to identify, investigate, and disrupt fraud schemes that threaten the public.”
According to court records, Iley operated an insurance brokerage business named Clayton Texas Legacy Insurance Group, LLC from its headquarters in Cross Plains, Texas and offered home, auto, life, health, farm & ranch, and commercial insurance policies to the public. Court documents show from January 2020 through May 2026, Iley used at least two entities he controlled, Texas Legacy Holdings and Enterprises, LLC and Spartan Global Security, LLC dba as “Black Eagle PMC” to conduct financial transactions. Texas Legacy Holdings operated as a holding company and was used to conduct financial transactions. Spartan Global purported to offer private security services, commercial security services, corporate security services, and private military contracting services. Iley defrauded victims by, among other things:Falsely representing to victims that he could invest their funds in a “Bonded Note” loan program that was provided by the U.S. Department of Defense to private military contractors, when in reality, Iley knew the relevant loan program did not exist; during the relevant time period, Iley collected over $2 million based on this misrepresentation and used the funds to pay his own personal expenses and to execute other parts of his fraudulent schemeFalsely represented to specific Texas Legacy Insurance clients that he would accept client funds and cause Texas Legacy Insurance to initiate requested insurance policies on their behalf, when in in reality, Iley knew he would accept their insurance premium payment funds, fail to open requested insurance policies, and instead intended use their funds to pay his own personal expenses and to fund the relevant fraudulent schemeProvided victim personal identifying information (e.g., first name, last name, etc.) to financial institutions to fraudulently secure credit cards bearing the names of those specific victims without the knowledge or authority of each victim, then used the resulting credit cards deposit funds into Spartan Global bank accounts and claim the transactions were gross receipts for the business; and pay for his own personal expenses and exotic collector vehicles.
As part of his plea agreement, Iley agreed to forfeit property over 90 exotic collector vehicles obtained with funds from his fraudulent scheme. To date, federal investigators have seized and secured a preliminary order of forfeiture for the following vehicles which will be sold to fund restitution owed to the victims of Iley’s fraud scheme: 2012 Lamborghini Model Ave 2016 Ferrari Model 488 2022 Maserati Model MC20 2021 Porsche Taycan 2013 Toyota Model Tundra 2014 Dodge SRT Viper 2022 Maserati Model MC20 2018 Ferrari Model 488 2022 Maserati Model MC20 2015 Lamborghini Model Huracan 2023 Jeep Gladiator 2015 Lamborghini Huracan 2012 Lamborghini Aventador 1968 Pontiac Model FB 1989 AM G M99 1990 BMY M923A 1993 AM General Iley pleaded guilty to wire fraud and aggravated identity theft offenses on June 17. U.S. District Court Judge Mark Pittman imposed the 160-month sentence yesterday.
The FBI’s Fort Worth Resident Agency, the Texas Rangers, the Texas Department of Public Safety and the Stephenville Police Department conducted the investigation. Assistant U.S. Attorney Mac McDonald from the Fort Worth Division prosecuted the case.