Key Takeaways
- • Clayton Lloyd Iley, 41, a Texas businessman, was sentenced to 13 years in federal prison for wire fraud and aggravated identity theft after running a $2 million-plus scheme targeting victims from 2020 to May 2026.
- • Federal authorities seized more than 90 exotic and collector vehicles (including Lamborghinis, Ferraris, and a Firebird) purchased with stolen funds to be liquidated for victim restitution.
- • Iley pitched a fabricated "Bonded Note" Defense Department loan program to investors, falsely claiming the investment vehicle was available to private military contractors, while operating an insurance brokerage and two companies including "Black Eagle PMC."
- • The defendant compounded the fraud by stealing premium payments from insurance clients without opening their policies, then using victims' stolen identities to open unauthorized credit cards that he used for personal expenses and vehicle purchases.
- • U.S. Attorney Ryan Raybould emphasized the conviction reflects federal commitment to prosecuting financial fraud schemes that cause "real financial and emotional harm" to victims.
Summary
Clayton Lloyd Iley, a 41-year-old Stephenville, Texas, businessman, received a 160-month federal prison sentence for orchestrating a complex fraud scheme that defrauded victims of more than $2 million over six years. According to the U.S. Attorney's Office for the Northern District of Texas, Iley operated an insurance brokerage while simultaneously running two companies—Spartan Global Security (doing business as "Black Eagle PMC," which marketed private military contracting services) and a second undisclosed entity—through which he funneled illicit proceeds.
The core of Iley's scheme centered on a fabricated investment product. He told potential victims he could invest their money in a "Bonded Note" loan program ostensibly offered by the Department of Defense to private military contractors. No such program existed. Iley collected funds from January 2020 through May 2026 under this false premise, spending the proceeds on personal expenses and vehicle acquisitions. Simultaneously, he collected insurance premiums from clients, opened no policies on their behalf, and pocketed the money.
To fund his exotic car collection—which ultimately exceeded 90 vehicles including Lamborghinis, Ferraris, and a Firebird—Iley escalated his criminal conduct to identity theft. He obtained victims' personal information and fraudulently opened credit cards in their names without authorization. He then charged these cards and routed the payments through Spartan Global's business accounts, disguising personal expenditures as legitimate business receipts. Federal authorities seized all vehicles purchased through the scheme; they will be liquidated to provide restitution to victims.
U.S. Attorney Ryan Raybould stated that the sentence reflects the government's commitment to holding fraudsters accountable, noting that 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." The conviction on wire fraud and aggravated identity theft charges underscores federal enforcement priorities against financial criminals who manipulate trust-based relationships with fabricated schemes.
The core of Iley's scheme centered on a fabricated investment product. He told potential victims he could invest their money in a "Bonded Note" loan program ostensibly offered by the Department of Defense to private military contractors. No such program existed. Iley collected funds from January 2020 through May 2026 under this false premise, spending the proceeds on personal expenses and vehicle acquisitions. Simultaneously, he collected insurance premiums from clients, opened no policies on their behalf, and pocketed the money.
To fund his exotic car collection—which ultimately exceeded 90 vehicles including Lamborghinis, Ferraris, and a Firebird—Iley escalated his criminal conduct to identity theft. He obtained victims' personal information and fraudulently opened credit cards in their names without authorization. He then charged these cards and routed the payments through Spartan Global's business accounts, disguising personal expenditures as legitimate business receipts. Federal authorities seized all vehicles purchased through the scheme; they will be liquidated to provide restitution to victims.
U.S. Attorney Ryan Raybould stated that the sentence reflects the government's commitment to holding fraudsters accountable, noting that 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." The conviction on wire fraud and aggravated identity theft charges underscores federal enforcement priorities against financial criminals who manipulate trust-based relationships with fabricated schemes.
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