A Texas businessman received a 160-month sentence for wire fraud and aggravated identity theft. He agreed to forfeit more than 90 vehicles purchased with fraud proceeds. Seized vehicles include Ferraris, Lamborghinis, Maseratis, and a Dodge Viper. A garage full of exotic cars can say plenty about its owner. In this case, federal prosecutors say it spoke to years of fraud, stolen identities, and money diverted from insurance customers. A Texas businessman has now received more than 13 years in prison over the scheme. His collection of more than 90 vehicles is also headed for a very different future. Clayton Lloyd Iley, 41, of Stephenville, was sentenced on October 1 to 160 months in federal prison for wire fraud and aggravated identity theft, according to the U.S. Attorney’s Office for the Northern District of Texas. He pleaded guilty on June 17 and agreed to forfeit vehicles purchased with proceeds from his fraud. More: Man Walks Into Dealership And Drives Away With $218K Porsche Using Fake Identity The cars named in the sentencing announcement include a 2012 Lamborghini Aventador, a 2015 Huracan, 2016 and 2018 Ferrari 488s, a 2014 Dodge SRT Viper, and a 2021 Porsche Taycan. Maserati MC20s also appear on the list, alongside considerably less exotic choices such as a Toyota Tundra and a Jeep Gladiator. An earlier DOJ announcement also listed classic Camaros, a Pontiac Firebird, a Trans Am, and military vehicles. Apparently, the shopping list extended well beyond European supercars. The money behind that collection came from several forms of deception. Iley operated Clayton Texas Legacy Insurance Group in Cross Plains, offering coverage that included auto, home, and life insurance. Prosecutors say he accepted some customers’ premium payments without opening the policies they requested, instead spending the money on himself and the wider scheme. Credit: Dodge He also pitched a supposed Department of Defense “Bonded Note” loan program for private military contractors. The program didn’t exist, but Iley collected more than $2 million through that pitch alone. Then, there were the credit cards. Iley would use victims’ personal information to obtain credit cards in their names. Then, he’d use those to fund personal expenses and vehicle purchases. At the same time, he was depositing money into a company he controlled and calling it business revenue. In other words, there was plenty of sketchy stuff going on beyond the purchase of fancy cars. Now, those cars will go to auction to fund restitution. That said, the DOJ hasn’t announced exactly when the vehicles will go on sale or what it believes the assets are worth. We’ll keep track of the case and update you as we learn more. Credit: Lamborghini Lead Image: Maserati
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