A Texas businessman sentenced to more than 13 years in federal prison will also lose a vehicle collection of more than 90 cars purchased with proceeds from a fraud scheme. The vehicles are expected to be auctioned to help fund restitution, although the sale date and estimated value have not been announced.

Clayton Lloyd Iley, 41, of Stephenville, received a 160-month sentence on October 1 after pleading guilty to wire fraud and aggravated identity theft. His guilty plea, entered June 17, included an agreement to forfeit vehicles acquired through the scheme.

Vehicles include supercars and trucks

The forfeiture list includes several high-value performance cars. Among them are a 2012 Lamborghini Aventador, a 2015 Lamborghini Huracan, 2016 and 2018 Ferrari 488 models, a 2014 Dodge SRT Viper, and a 2021 Porsche Taycan.

Maserati MC20s are also included. The collection was not limited to exotic cars, with a Toyota Tundra and Jeep Gladiator appearing on the list as well. A previous Justice Department announcement also identified classic Chevrolet Camaros, a Pontiac Firebird, a Trans Am, and military vehicles.

Fraud involved insurance premiums and stolen identities

Iley operated Clayton Texas Legacy Insurance Group in Cross Plains, where he offered auto, home, and life insurance. Prosecutors said he accepted premium payments from some customers without establishing the policies they had requested, using the money for himself and other parts of the operation instead.

He also promoted a purported Department of Defense “Bonded Note” loan program aimed at private military contractors. According to the case details, the program did not exist, but the pitch generated more than $2 million.

In another part of the scheme, Iley used victims’ personal information to obtain credit cards in their names. Those accounts were then used for personal expenses and vehicle purchases. He also deposited funds into a company he controlled while describing the money as business revenue.

The forfeited vehicles will be sold to support restitution. The U.S. Department of Justice has not yet provided a date for the auction or an estimate of the collection’s total value.