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 on September 9, 2026 at 9:00 AM 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 (September 9, 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.

Devin Elder Federal Case | USA v. Elder | Case 5:26-cr-00038-FB

United States v. Devin Ward Elder | Case No. 5:26-cr-00038-FB | U.S. District Court, Western District of Texas, San Antonio Division | Judge Fred Biery

Plea Agreement Summary

On February 17, 2026, Devin Ward Elder pleaded guilty to one count of federal wire fraud (18 U.S.C. § 1343). The plea agreement establishes that Elder defrauded 345 investors of $66 million through DJE Texas Management Group between January 2023 and March 2025.

Key Terms

Charge: Wire Fraud, 18 U.S.C. § 1343
Maximum Sentence: 20 years federal prison
Money Judgment: $66,000,000
Forfeiture: 13 real properties across multiple Texas counties
Sentencing: September 9, 2026 at 9:00 AM CT
Judge: Fred Biery

Forfeited Properties

Leeds Building (345 W. Commerce St., San Antonio)
Travis Building (405 N. St. Mary's St., San Antonio)
Eventide Ranch (500 acres, South Texas)
825 Eventide Dr., Terrell Hills (single-family)
717 Sunrise Ave., Port Aransas (beach house)
Multiple Atascosa and Bee County land tracts

Asset Recovery Timeline (2026)

Feb 20, 2026: First Atascosa tract sold (proceeds to Capital Farm Credit lien)
Mar 9, 2026: Leeds Building sold to GXM Investments LLC for $1.4M
May 5, 2026: Brooks Business Park (9326 SE Loop 410) foreclosed by Security State Bank via substitute trustee sale. Bank purchased at auction for $5,157,000. Elder obtained $4,945,394 loan Jun 7, 2024 and kept proceeds. Zero return of investor capital. (Bexar County Doc# 20260084750)
May 19, 2026: 825 Eventide Dr., Terrell Hills TX 78209 - Sale confirmed (Doc. 45). Buyer: Lionel & Magda Branscomb. Price: $754,000. Sold free and clear.
Jun 1, 2026: 717 Sunrise Ave., Port Aransas TX 78373 - Sale confirmed (Doc. 51). Buyer: SCB SA, LLC. Price: $850,000. Gayle Cagianut lien satisfied.
May 28, 2026: Last Atascosa County acreage (94.98 acres) sold for $569,880
Jun 3, 2026: Judge Biery signs Bakkt cryptocurrency garnishment order (Doc. 54)
Jun 11, 2026: Travis Building (405 N. St. Mary's St., 63-unit apartments) sold to owner of Horseshoe Bay Resort. Buyer took $10.8M loan from UC Funds. Elder bought building in 2020 with Harris Bay, converted from office to apartments (finished 2023), then acquired Harris Bay's stake. Defaulted on $18.25M UC Funds loan; UC Funds bid $16.7M at foreclosure. Appraised: ~$12.9M.
Jun 11, 2026: Medina Base Rd parcel (4.09 acres, Medina Business Park Venture LLC) - Motion to Confirm Sale filed (Doc. 57). Buyer: Adryca Construction LLC. Contract price: $800,000. Net to victims: ~$660,000.
Jun 11, 2026: 4335 Culebra, San Antonio TX 78228 - Motion to Confirm Sale filed (Doc. 58). Buyer: Brier Village Investment LLC. Contract price: $650,000. Net to victims: ~$580,000.
Jun 15, 2026: 210 Fantasia, Bexar County (3br/2ba SFR, Alamo 678 Holdings LLC) - Motion to Confirm Sale filed (Doc. 59). Buyer: Big Contracting and Construction LLC. Contract price: $235,000. Net to victims: ~$38,000 (Shellpoint Mortgage lien).
Jun 26, 2026: 630 Rocklyn Dr., Windcrest TX 78239 - Sale confirmed by court order (Doc. 64). Buyer: Big Contracting and Construction LLC. Confirmed price: $305,000. Jefferson Bank lien to be satisfied.
Jul 7, 2026: The Preston Apartments (3200 Thousand Oaks Dr., San Antonio) — Lender files lawsuit alleging default on $7.3M mortgage after missing monthly payments. Complex described as abandoned. Owned by 3200 Thousand Oaks LLC (Elder-affiliated, involuntarily terminated Sep 2025). City ordered evacuation of 36 upper-floor units in April 2026 after stairs collapsed. Not part of federal receivership. Source: San Antonio Express-News.

Federal Receiver

Dan Kubinski of Crowned Eagle Realty LLC was appointed as federal receiver to liquidate approximately 21 DJE Texas properties totaling more than 1,000 acres.

Frequently Asked Questions

Did Devin Elder plead guilty?: Yes. Devin Ward Elder pleaded guilty on February 17, 2026 to one count of federal wire fraud (18 U.S.C. § 1343) in the Western District of Texas, San Antonio Division.
When is Devin Elder's sentencing?: September 9, 2026 at 9:00 AM before U.S. District Judge Fred Biery at 262 W. Nueva St., San Antonio, TX 78207. Maximum sentence: 20 years federal prison.
How much did DJE Texas investors lose?: Approximately $66 million in outstanding principal owed to 345 investors. As of June 2026, the federal receiver has completed multiple asset sales but total recovery remains a small fraction of the $66M owed.

All information sourced from public federal court records (Case 5:26-cr-00038-FB) and published news reporting.

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