⚠ FOUNDED AMID THE FBI INVESTIGATION OF DJE TEXAS
Ark40 Consulting
Founded by Devin Ward Elder — Guilty Plea to $66M Federal Wire Fraud — February 17, 2026
Ark40 Consulting (also written Ark 40 or ARK-40) 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 (December 16, 2026 at 9:00 AM, 262 W. Nueva St., San Antonio, TX 78207). 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.
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: December 16, 2026 at 9:00 AM, 262 W. Nueva St., San Antonio, TX 78207.
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.
Screenshot: ark40consulting.com/about — captured April 2026. Elder's "A Note on This Work" section describes the $66M fraud as "expensive mistakes."
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.
When was Ark40 Consulting founded?
Elder launched Ark40 Consulting in July 2025, while the FBI was investigating DJE Texas Management Group.
Is Ark40 Consulting the same as DJE Texas?
Ark40 Consulting is a new business founded by Devin Ward Elder in July 2025, after the collapse of DJE Texas Management Group and while the FBI was investigating the firm. 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 December 16, 2026 at 9:00 AM before U.S. District Judge Fred Biery at the U.S. Courthouse, 262 W. Nueva St., San Antonio, TX 78207. The maximum sentence is 20 years federal prison.
December 16, 2026 · 9:00 AM CT
262 W. Nueva St., San Antonio, TX 78207 · U.S. District Court, W.D. Texas · Judge Fred Biery
Maximum sentence: 20 years federal prison
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.