The Sentencing of
Devin Ward Elder
One count of federal wire fraud. 345 victims. $66 million. One morning in San Antonio.
The Stakes
The single wire-fraud count carries up to 20 years in federal prison, a fine of up to $250,000, and up to 3 years of supervised release.
Every victim impact statement submitted must be considered by the court before sentence is imposed. Statements may be submitted up to sentencing day.
Restitution is mandatory. A federal receiver is already liquidating ~21 properties; net proceeds flow to victims against the $66 million owed.
| Defendant | Devin Ward Elder, age 47, San Antonio TX |
| Case number | 5:26-cr-00038-FB |
| Court | U.S. District Court, Western District of Texas, San Antonio Division |
| Judge | Hon. Fred Biery |
| Charge | Federal wire fraud — 18 U.S.C. § 1343 (one count) |
| Guilty plea | February 17, 2026 |
| Sentencing | December 16, 2026 · 9:00 AM CT |
| Maximum sentence | 20 years federal prison |
| Fraud amount | $66,000,000 (outstanding principal) |
| Victims | ~345 investors, including senior citizens and retirees |
| Money judgment | $66,000,000 |
| Scheme duration | January 2023 – March 2025 |
| Entities | DJE Texas Management Group LLC; 17 investment offerings |
| Prosecutor | U.S. Attorney's Office, Western District of Texas |
How the Morning Unfolds
The Presentence Report
The U.S. Probation Office prepares a Presentence Investigation Report (PSR) calculating the guidelines range, victim impact, and defendant's background. Both parties may object — the judge resolves disputes first.
Victims Address the Court
Victims may submit written statements and speak in court. The court is required to consider the impact on victims. Statements describing financial loss, emotional harm, and retirement impact carry significant weight.
Both Sides Argue
The U.S. Attorney's Office submits a sentencing memorandum recommending a specific sentence, typically within or above the guidelines range for fraud cases of this magnitude. Defense counsel argues for a below-guidelines sentence based on mitigating factors, cooperation, and personal circumstances.
Elder's Allocution
Before sentence is imposed, the court must address Elder personally and give him the opportunity to speak on his own behalf — the defendant's right of allocution under Federal Rule of Criminal Procedure 32. It is traditionally the last voice the judge hears before pronouncing sentence.
Judge Biery Pronounces Sentence
Prison term, supervised release, restitution order, fines, and forfeiture. Any departure from the guidelines range must be explained on the record. The court will issue a restitution order specifying the amount owed to victims and the payment schedule — restitution is mandatory in federal fraud cases. This page updates the day the sentence lands.
If You Are a Victim — Your Voice Matters at Sentencing
Federal law gives every victim the right to submit a Victim Impact Statement and speak at sentencing. Judges are required to consider the impact on victims. Statements describing financial loss, emotional harm, and the effect on retirement or life savings carry significant weight in federal fraud cases of this scale.
How to Submit a Victim Impact Statement →