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 Ward Elder — Mugshot & Photo Gallery — Federal Wire Fraud Case

Official photo gallery of Devin Ward Elder, convicted federal wire fraud defendant. Includes mugshot, helicopter (N244WB), and private jet (N776RM) purchased with stolen investor funds. Case 5:26-cr-00038-FB, Western District of Texas.

Case Summary

Defendant: Devin Ward Elder, age 47
Charge: Wire Fraud, 18 U.S.C. § 1343
Guilty Plea: February 17, 2026
Victims: 345 investors
Total Fraud: $66 million
Maximum Sentence: 20 years federal prison
Sentencing: September 9, 2026 at 9:00 AM CT

Exhibit A: Defendant Mugshot

Devin Ward Elder. Founder and CEO of DJE Texas Management Group, LLC. Pleaded guilty to one count of federal wire fraud on February 17, 2026 after defrauding 345 investors of over $66 million through 17 fraudulent real estate investment offerings.

Exhibit B: Robinson R44 Helicopter (N244WB)

Custom camouflage Robinson R44 helicopter with shark-mouth vinyl wrap, tail number N244WB. Registered to "Get to the Choppa LLC," an entity controlled by Devin Elder. Purchased with diverted DJE Texas investor funds. Used for aerial hunting at Eventide Ranch.

Exhibit C: SOCATA TBM 700 Private Jet (N776RM)

SOCATA TBM 700 turboprop private jet, tail number N776RM. Purchased with stolen investor capital from DJE Texas Management Group. "Vegas for the weekend!" — Elder's social media post, January 19, 2024, while investors' retirement savings were being systematically diverted.

Exhibit D: Boarding Private Jet with Red Carpet

Devin Elder boarding his SOCATA TBM 700 private jet (N776RM) with red carpet treatment in San Antonio, Texas. Funded by investor capital stolen from 345 victims through DJE Texas Management Group while Elder represented to investors that their funds were being used for specific real estate projects.

Context

Elder told investors their money would be used to acquire and develop commercial real estate. Instead, he diverted millions to fund a private jet, a helicopter, an exotic animal ranch, and a lavish personal lifestyle. — U.S. Attorney's Office, Western District of Texas

All information sourced from federal court records. Case 5:26-cr-00038-FB.

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