Exclusive look at exotic cars forfeited in multi-million-dollar fraud case

90 cars seized in case against Stephenville insurance broker Clayton Iley.

Lamborghini, Maserati, Viper and Porsche: At first glance, a North Texas garage looks like a dream exotic car collection but the story behind how the rides got here is riddled with fraud.

"These cars do not belong to the defendant and they were paid for by lying to investors, lying to main street Americans. It happened to real people all across North Texas, well over 70 victims," U.S. Attorney for the Northern District of Texas Ryan Raybould said.

Raybould says 41-year-old Clayton Iley, an insurance broker from Stephenville, abused his position of trust starting in 2020, selling fake annuities connected to the Department of Defense, then diverting the money by opening anywhere from 10 to 20 lines of credit in the victims’ names.

"Some of them had to file bankruptcy; they've had to fight tooth and nail to try to restore their credit. Those fights are ongoing," Raybould said.

"Many of them will be sold off in auction, and the benefits of the proceeds from those auction items, depending on how the court order spells it out, will be distributed back to the victims of the crimes or to the investigating agency or supporting agencies, law enforcement agencies that assisted in the case," Sean Malecha, the United States Marshal for the Northern District of Texas, said.

Malecha says the FBI arrested Iley and the US Marshals seized the cars; there is a restitution order over six million dollars for the victims.

Iley pleaded guilty to wire fraud and aggravated identity theft offenses and was sentenced last week to 13 years in federal prison.

"We've actually seized 90, but we have 35 to 40 in our possession because the other 50 or 40 or so went to the banks that had equity," Raybould said.

Cars once fraudulently collected at top speed, now on the steady track to bringing justice.