Clayton Lloyd Iley, a 41-year-old businessman from Stephenville, Texas, pleaded guilty on June 17 to wire fraud and aggravated identity theft offenses related to a scheme involving fraudulent credit card use and a scam loan program, according to an announcement by United States Attorney for the Northern District of Texas Ryan Raybould on July 30 in Fort Worth.
Raybould said, “My office will not stand by and allow criminals to scam Americans out of their hard-earned money without consequence. Fraud doesn’t just harm an individual — it disrupts families and communities across all 100 counties of the Northern District of Texas. Its effects are felt most deeply by those who are vulnerable, including elderly residents who are too often targeted by schemes designed to exploit their trust. Protecting every community in this district is my unwavering commitment, and we will aggressively pursue anyone who preys on the innocent and work to ensure victims receive the justice and restitution they deserve.”
FBI Dallas Special Agent in Charge R. Joseph Rothrock said, “This plea demonstrates the lengths these criminals will go to defraud members of our communities. The FBI and our partners remain committed to identifying and investigating the perpetrators of these fraudulent schemes and encourage the public to notify the FBI if they suspect they are the victims of fraud.”
According to court records, Iley operated Clayton Texas Legacy Insurance Group, LLC from Cross Plains, Texas, offering various insurance policies. From January 2020 through May 2026, he used entities including Texas Legacy Holdings and Enterprises LLC as well as Spartan Global Security LLC (doing business as Black Eagle PMC) for financial transactions connected with his scheme. Prosecutors say Iley misrepresented investments in a fictitious “Bonded Note” loan program allegedly provided by the U.S. Department of Defense for private military contractors—collecting over $2 million from victims which he used for personal expenses—and accepted insurance premium payments without providing requested coverage.
Iley also used clients’ personal information without authorization to obtain credit cards in their names; he then deposited funds into Spartan Global accounts or made purchases such as vehicles using those cards. As part of his plea agreement, Iley agreed to forfeit more than 90 exotic collector vehicles acquired with proceeds from his fraudulent activities; federal investigators have seized several high-value cars that will be sold for victim restitution.
Iley was charged via Information with one count each of wire fraud (maximum penalty up to 20 years) and aggravated identity theft (mandatory two-year sentence). Sentencing is scheduled before U.S. District Judge Mark T. Pittman on Oct. 1.
The FBI’s Fort Worth Resident Agency led the investigation along with state law enforcement agencies; Assistant U.S. Attorney Mac McDonald is prosecuting this case.
The U.S. Attorney’s Office for the Northern District of Texas covers about eight million residents across a region spanning roughly 96,000 square miles with offices located at Earle Cabell Federal Building in Dallas as well as branch offices in Fort Worth, Lubbock, Amarillo, and Abilene; it employs around 100 assistant attorneys and staff who prosecute federal crimes—including cases like this—and manage civil litigation on behalf of government agencies as part of its role within the Department of Justice while also promoting community trust through outreach initiatives, according to its official website.