A North Texas man is headed to federal prison as more than 90 exotic cars linked to his fraud scheme are expected to be sold to help repay his victims.
As part of his plea agreement, Iley agreed to forfeit more than 90 exotic collector vehicles obtained with funds from his fraudulent scheme. Federal investigators have seized several vehicles, which will be sold to fund restitution owed to Iley’s victims.
Following Iley’s guilty plea in June and October, the federal government released a list of vehicles seized in the case, including a 2012 Lamborghini Aventador, a 2016 Ferrari 488, a 1990 BMY M923A, a 1989 Humvee and a 1968 Pontiac Firebird, among others.
The conviction follows Iley’s role in defrauding customers using at least two companies he controlled. Court records indicate Iley operated Clayton Texas Legacy Insurance Group LLC, an insurance brokerage based in Cross Plains. The company offered home, auto, life, health, farm and ranch, and commercial insurance policies.
From January 2020 to May 2026, Iley used Texas Legacy Holdings and Enterprises LLC, a holding company, and Spartan Global Security LLC, which did business as Black Eagle PMC, to conduct financial transactions. Spartan Global claimed to offer private, commercial and corporate security services, as well as private military contracts.
Prosecutors say Iley promised investors a nonexistent government-backed loan program and misused more than $2 million for personal expenses. Iley also accepted insurance payments without purchasing the requested policies and used victims’ personal information to obtain credit cards, spending the money on himself and on collector cars.
“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,” U.S. Attorney Ryan Raybould said in the release. “This sentence reflects our commitment to holding fraudsters accountable. Those who steal from our community members, manipulate them with fabricated schemes, and abuse their identities will face significant federal consequences.”
The Fort Worth Resident FBI Agency, Texas Rangers, Texas Department of Public Safety and the Stephenville Police Department conducted the investigation.
“This 160-month sentence holds the defendant accountable for a multi-year fraud scheme that exploited members of our communities,” FBI Dallas Special Agent in Charge R. Joseph Rothrock said in the release. “The FBI will continue to work in close coordination with our partners to identify, investigate and thwart fraudulent schemes that threaten the public.”
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