Texas Businessman Sentenced to 13 Years in Prison for $2 Million Fraud Scheme

Clayton Lloyd Iley, 41, of Stephenville, Texas, was sentenced to 160 months in federal prison for wire fraud and aggravated identity theft. He ran a fake Defense Department investment program and stole insurance clients' personal information to fund a collection of more than 90 exotic and collector vehicles, which will be sold to repay victims.

This item was produced with AI assistance under the editorial responsibility of Haydamax OÜ.