{"id":457465,"date":"2026-10-06T00:04:08","date_gmt":"2026-10-06T00:04:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/457465\/"},"modified":"2026-10-06T00:04:08","modified_gmt":"2026-10-06T00:04:08","slug":"feds-seize-90-exotic-cars-from-texas-man-in-2m-fraud-bust","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/457465\/","title":{"rendered":"Feds seize 90 exotic cars from Texas man in $2M fraud bust"},"content":{"rendered":"

A North Texas man is headed to federal prison<\/a> while more than 90 exotic cars tied to his fraud scheme<\/a> are set to be sold to help repay his victims.<\/p>\n

As part of his plea agreement,\u00a0Iley agreed to forfeit more than 90 exotic collector vehicles obtained with funds from his fraud scheme<\/a>. Federal investigators have seized several of the vehicles, which will be sold to fund restitution owed to Iley’s victims.<\/p>\n

Following\u00a0Iley’s guilty plea in June and October sentencing, the federal government released a list of vehicles seized in the case, including a 2012 Lamborghini Aventador, 2016 Ferrari 488, 1990 BMY M923A, 1989 Humvee and 1968 Pontiac Firebird, among others.<\/p>\n

The sentencing follows Iley’s role in defrauding customers using at least two businesses he controlled. Court records say Iley ran 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 policies.<\/p>\n

From January 2020 through May 2026,\u00a0Iley 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 purported to offer private, commercial and corporate security services, as well as private military contracting.<\/p>\n

Prosecutors say\u00a0Iley promised investors a nonexistent government-backed loan program and misused more than $2 million for personal expenses. Iley also took insurance payments without purchasing the requested policies and used victims’ personal information to obtain credit cards, spending the money on himself and collector cars.<\/p>\n

“Clayton\u00a0Iley’s conduct caused real financial and emotional harm to the victims he targeted, many of whom trusted him with their personal information and hard\u2011earned money,” U.S. Attorney Ryan Raybould said in the release. “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.” \u00a0<\/p>\n

The FBI’s Fort Worth Resident Agency, the Texas Rangers, the Texas Department of Public Safety and the\u00a0Stephenville Police Department conducted the investigation.<\/p>\n

“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\u00a0Rothrock said in the release. “The FBI will continue to work in close coordination with our partners to identify, investigate, and disrupt fraud schemes that threaten the public.”<\/p>\n","protected":false},"excerpt":{"rendered":"A North Texas man is headed to federal prison while more than 90 exotic cars tied to his…\n","protected":false},"author":2,"featured_media":457466,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[1836,1704,85744,27,29,28],"class_list":["post-457465","post","type-post","status-publish","format-standard","has-post-thumbnail","category-texas","tag-chronnews","tag-chronstaff","tag-chrontexas","tag-texas","tag-texas-headlines","tag-texas-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/457465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=457465"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/457465\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/457466"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=457465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=457465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=457465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}