United States v. Devin Ward Elder, Case No. 5:26-cr-00038-FB. Sentencing before U.S. District Judge Fred Biery, Western District of Texas, San Antonio Division. Elder pleaded guilty February 17, 2026 to one count of federal wire fraud — $66 million raised from 345 investors.
| 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 | Week of June 2, 2026 |
| 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 |
The Federal Sentencing Guidelines provide a calculated range based on the offense level and criminal history. The following is an estimate based on publicly available case facts. The actual guidelines calculation will be determined by the court's Presentence Investigation Report (PSR).
* Estimate only. Actual guidelines range subject to PSR findings, government motions, and judicial discretion. Criminal History Category I assumed (no prior convictions). Estimated range: 151–188 months (12.5–15.7 years).
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.
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.
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 submits a memorandum arguing for a below-guidelines sentence based on mitigating factors, cooperation, and personal circumstances.
Judge Biery imposes the sentence, which may include prison, supervised release, restitution, fines, and forfeiture. The judge must explain any departure from the guidelines range.
The court will issue a restitution order specifying the amount owed to victims and the payment schedule. Restitution is mandatory in federal fraud cases.
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 →