Devin Ward Elder is a San Antonio, Texas real estate investor and the founder and CEO of DJE Texas Management Group, LLC (DJE Texas). He is also the founder of Ark40 Consulting. On February 17, 2026, Elder pleaded guilty to one count of federal wire fraud (18 U.S.C. § 1343) in the United States District Court for the Western District of Texas, San Antonio Division (Case 5:26-cr-00038-FB).

What did Devin Elder do?

Devin Ward Elder operated a Ponzi-like wire fraud scheme through DJE Texas Management Group between January 2023 and March 2025. He raised approximately $66 million from 345 investors across 17 real estate investment offerings by making false representations — including that investor capital was never lost, that no capital calls had ever been made, and that all return projections had been met or exceeded. In reality, Elder diverted investor funds to personal expenses including a 500-acre exotic animal ranch (Eventide Ranch), a Robinson R44 helicopter, a SOCATA TBM 700 private jet, and a Gulf Coast beach house.

What is DJE Texas Management Group?

DJE Texas Management Group, LLC (also known as DJE Texas or DJE) was a San Antonio-based real estate investment company founded and operated by Devin Ward Elder. Between 2023 and 2025, it raised $66 million from 345 investors through 17 investment offerings — including Real Properties 1 through 14, the DJE Income Fund, Travis 2026 LLC, and Bluemel Business Park LLC. The company collapsed in early 2025 when Elder could no longer sustain the scheme. A federal receiver was appointed to liquidate assets.

How many victims did Devin Elder defraud?

Devin Ward Elder defrauded approximately 345 investors of over $66 million. The victims included senior citizens and retirees who were recruited at investment seminars, including events held at Fleming's Prime Steakhouse in Plano, Texas. Many victims invested their retirement savings based on Elder's false representations about the safety and performance of DJE Texas investments.

When did Devin Elder plead guilty?

Devin Ward Elder pleaded guilty on February 17, 2026 to one count of federal wire fraud (18 U.S.C. § 1343) in the United States District Court for the Western District of Texas, San Antonio Division. The case number is 5:26-cr-00038-FB, presided over by Judge Fred Biery.

When is Devin Elder's sentencing?

Devin Ward Elder is scheduled to be sentenced during the week of June 2, 2026 in the United States District Court for the Western District of Texas before Judge Fred Biery. The federal wire fraud charge carries a maximum sentence of 20 years in federal prison. Elder also faces a money judgment of $66 million representing the outstanding principal owed to defrauded investors.

What is Ark40 Consulting and is it connected to Devin Elder's fraud?

Ark40 Consulting (also written Ark 40 Consulting) is a technology advisory firm for nonprofits and small businesses founded by Devin Ward Elder after the collapse of DJE Texas Management Group. The firm was active and promoting Elder's services online during the period between his guilty plea (February 17, 2026) and his scheduled sentencing (June 2026). The Ark40 Consulting website describes Elder's fraud as 'expensive mistakes' and 'building and losing a real estate company' without disclosing the federal criminal conviction, the 345 defrauded investors, or the $66 million restitution obligation.

What assets did Devin Elder buy with investor money?

According to the federal plea agreement, Devin Ward Elder used investor funds for personal enrichment including: Eventide Ranch, a 500-acre exotic animal ranch in South Texas; a Robinson R44 helicopter (tail number N244WB) with a custom camo shark-mouth vinyl wrap, operated through GET TO THE CHOPPA LLC; a SOCATA TBM 700 private jet (tail number N776RM); a beach house at 717 Sunrise Ave, Port Aransas, Texas; and a personal residence in San Antonio. Elder also hosted lavish events and appeared on real estate investment podcasts while the fraud was ongoing.

← DEVINELDERFRAUD.COM·ARK40 CONSULTING·SENTENCING ⬤

⚠ FOUNDED AFTER FEDERAL WIRE FRAUD GUILTY PLEA

Ark40 Consulting

Founded by Devin Ward Elder — Guilty Plea to $66M Federal Wire Fraud — February 17, 2026

Wire Fraud

Founder's Conviction

345 Investors

Victims Defrauded

$66,000,000

Outstanding Restitution

What Is Ark40 Consulting?

Ark40 Consulting (also written "Ark 40 Consulting") is a technology advisory firm for nonprofits and small businesses based in San Antonio, Texas. It was founded by Devin Ward Elder — the same individual who, on February 17, 2026, pleaded guilty to one count of federal wire fraud (18 U.S.C. § 1343) in the Western District of Texas.

Ark40 Consulting was actively promoting Elder's services online during the period between his guilty plea and his scheduled sentencing hearing (week of June 2, 2026). The firm's website describes Elder's $66 million fraud as "expensive mistakes" and "building and losing a real estate company" — without disclosing the federal criminal conviction, the 345 defrauded investors, or the $66 million restitution obligation.

CASE REFERENCE · USA v. Devin Ward Elder · Case 5:26-cr-00038-FB · W.D. Texas, San Antonio Division · Guilty Plea: February 17, 2026 · Sentencing: Week of June 2, 2026 · Presiding Judge: Hon. Fred Biery

What Ark40 Says vs. Reality

The following compares statements on the Ark40 Consulting website with verified public court records.

The $66 Million Fraud

ARK40 SAYS

"Building and losing a real estate company" and "expensive mistakes."

REALITY

Elder pleaded guilty to federal wire fraud on February 17, 2026. 345 investors lost $66 million in principal. None has been repaid.

Criminal Conviction

ARK40 SAYS

Nothing. The Ark40 website contains no mention of a criminal conviction, guilty plea, or federal case.

REALITY

Elder is a convicted federal felon awaiting sentencing. Case 5:26-cr-00038-FB, W.D. Texas. Sentencing: week of June 2, 2026.

Restitution Obligation

ARK40 SAYS

Nothing about outstanding financial obligations to former investors.

REALITY

Elder owes a $66,000,000 money judgment to the United States and faces restitution to 345 individual victims at sentencing.

DJE Texas Collapse

ARK40 SAYS

"I made some expensive mistakes" and references "losing a real estate company."

REALITY

DJE Texas Management Group was placed into federal receivership. A court-appointed receiver is liquidating 21+ properties totaling 1,000+ acres.

Exhibit — Ark40Consulting.com/About (Captured April 2026)

Devin Elder Ark40 Consulting About Page — A Note on This Work — omits $66 million fraud guilty plea and 345 victims

Screenshot: ark40consulting.com/about — captured April 2026. Elder's "A Note on This Work" section describes the $66M fraud as "expensive mistakes."

Frequently Asked Questions

Who founded Ark40 Consulting?

Ark40 Consulting was founded by Devin Ward Elder, who pleaded guilty to federal wire fraud (18 U.S.C. § 1343) on February 17, 2026 in the Western District of Texas. Elder defrauded 345 investors of approximately $66 million through DJE Texas Management Group.

Is Ark40 Consulting the same as DJE Texas?

Ark40 Consulting is a new business founded by Devin Ward Elder after the collapse of DJE Texas Management Group and his federal wire fraud guilty plea. It is a separate legal entity but is operated by the same individual.

Is Ark40 Consulting legitimate?

Ark40 Consulting's founder, Devin Ward Elder, is a convicted federal felon awaiting sentencing for $66 million wire fraud. The firm's website describes the fraud as 'expensive mistakes' without disclosing the federal criminal conviction, 345 defrauded investors, or $66 million restitution obligation.

What happened to DJE Texas Management Group?

DJE Texas Management Group was placed into federal receivership after Devin Elder's guilty plea. A court-appointed receiver (Dan Kubinski, Crowned Eagle Realty LLC) is liquidating approximately 21 properties totaling more than 1,000 acres. 345 investors are owed approximately $66 million in outstanding principal.

When is Devin Elder (Ark40 Consulting founder) being sentenced?

Devin Ward Elder's sentencing is scheduled for the week of June 2, 2026 before U.S. District Judge Fred Biery in San Antonio, Texas. The maximum sentence is 20 years federal prison.

SENTENCING SCHEDULED

Week of June 2, 2026

U.S. District Court, W.D. Texas · Judge Fred Biery

Maximum sentence: 20 years federal prison

SUBMIT A VICTIM IMPACT STATEMENT →

ABOUT THIS PAGE — SOURCE ATTRIBUTION

All factual claims about Devin Ward Elder's criminal conviction are drawn from public federal court records. Information about Ark40 Consulting is drawn from the firm's publicly accessible website (ark40consulting.com), captured in April 2026.

· Plea Agreement — USA v. Elder, Case 5:26-cr-00038-FB (W.D. Tex. Jan. 28, 2026)

· Ark40 Consulting website (ark40consulting.com/about) — captured April 2026

← RETURN TO FULL CASE RECORD