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Texas Businessman Gets 13 Years in Prison, Must Sell 90 Collector Cars to Pay Back Fraud Victims

Prosecutors said Clayton Lloyd Iley collected more than $2 million from victims and used the money to buy over 90 luxury vehicles.

Summary by KDFW
A Stephensville businessman’s fraudulent scheme has left him with more than a decade of prison time, and he will have to give up over 90 collector vehicles in order to pay the victims back.

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Texas businessman gets 13 years in prison, must sell 90 collector cars to pay back fraud victims

A Stephensville businessman’s fraudulent scheme has left him with more than a decade of prison time, and he will have to give up over 90 collector vehicles in order to pay the victims back.

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Lamborghinis, Ferraris and a fake loan program: North Texas businessman gets 13 years in $2M fraud scheme

A Stephenville businessman was sentenced to more than 13 years in federal prison for a $2 million fraud scheme involving fake loans and stolen identities.

·Dallas, United States
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WFAA 8abc broke the news in Dallas, United States on Friday, October 2, 2026.
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