(U.S. Air Force photo by Airman 1st Class Joseph Barron)
FORT WORTH, Texas – 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.
What we know:
Clayton Lloyd Iley, 41, who operated an insurance brokerage business called Clayton Texas Legacy Insurance Group, LLC, was sentenced to more than 13 years in prison for wire fraud and identity theft, according to the U.S. Department of Justice.
What the scheme entailed
Dig deeper:
Prosecutors said Iley offered a scam loan program to multiple victims, telling them he could invest their funds in the program he knew did not exist. He collected over $2 million from this and used the funds to execute other parts of his scheme, the DOJ said.
Iley also told clients he would initiate insurance…
THE TD BANK INSIDER “BRIBE-FOR-DATA” SCHEME (USA)
Date: February 17, 2026 Perpetrator: Edward Low (Former Bank Employee)
Case Description: In a high-profile case of “Insider Threat,” Edward Low, a former employee of TD Bank in New York, pleaded guilty in a New Jersey federal court to accepting bribes in exchange for confidential customer data. Between 2021 and 2022, Low leveraged his internal access to harvest the personal details of high-balance account holders. He then sold this “hot data” to external fraud syndicates for as little as $26,700 in personal kickbacks.
The external fraudsters used the information Low provided to conduct “Account Takeovers” (ATO), creating fraudulent checks and falsifying bank records to drain over $500,000 from unsuspecting customers. Low even went as far as helping co-conspirators open shell company accounts at a second financial institution where he was later employed. He now faces a maximum penalty of 30 years in prison. This case has sent shockwaves through the global banking sector, highlighting that even the most robust external firewalls cannot protect against a “rogue insider” with administrative credentials.
Link to Original: US Dept of Justice – TD Bank Insider Plea