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 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 Sentencing | September 9, 2026 | Federal Wire Fraud

Devin Ward Elder is scheduled to be sentenced on September 9, 2026 at 9:00 AM CT for federal wire fraud (18 U.S.C. § 1343) in the United States District Court for the Western District of Texas, San Antonio Division.

Sentencing Details

Date: September 9, 2026
Time: 9:00 AM Central Time
Location: U.S. Courthouse, 262 W. Nueva St., San Antonio, TX 78207
Judge: Fred Biery
Case: 5:26-cr-00038-FB
Maximum Sentence: 20 years federal prison
Money Judgment: $66,000,000

Case at a Glance

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
Scheme Duration: January 2023 to March 2025

Federal Sentencing Guidelines Calculation

Base offense level: Wire fraud base Level 7
Loss amount ($66M+): +22 levels (exceeds $65M loss threshold)
Number of victims (345+): +4 levels (exceeds 250 victims)
Sophisticated means: +2 levels (PPM structure, multiple LLCs)
Vulnerable victims: +2 levels (senior citizens and retirees)
Acceptance of responsibility: -3 levels (guilty plea)
Estimated total offense level: ~34, yielding 151–188 months (12.5–15.7 years)

What Happens at Sentencing

Judge Biery will consider the federal sentencing guidelines, the pre-sentence investigation report, victim impact statements, and arguments from both the prosecution and defense before imposing a sentence. The public may attend federal sentencing hearings.

Frequently Asked Questions

When is Devin Elder's sentencing?: September 9, 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. Case number 5:26-cr-00038-FB.
How many years in prison could Devin Elder receive?: The maximum statutory sentence for federal wire fraud (18 U.S.C. § 1343) is 20 years per count. Elder pleaded guilty to one count. The estimated Federal Sentencing Guidelines range is 151–188 months (approximately 12.5–15.7 years) based on the $66 million fraud amount, 345 victims, sophisticated means, and vulnerable victim enhancements.
Did Devin Elder plead guilty?: Yes. Devin Ward Elder pleaded guilty on February 17, 2026 to one count of federal wire fraud in the Western District of Texas. He admitted to raising $66 million from approximately 345 investors through false representations.
How much restitution will DJE Texas investors receive?: Elder agreed to a $66,000,000 money judgment as part of his plea agreement. The actual restitution amount and payment schedule will be determined at sentencing. As of June 2026, multiple properties have been sold and cryptocurrency holdings are being seized via prejudgment garnishment.
What is Ark40 Consulting and is Devin Elder still operating it?: Ark40 Consulting (ark40consulting.com) is a technology advisory firm founded by Devin Ward Elder after the collapse of DJE Texas. It was actively promoting Elder's services between his guilty plea (February 17, 2026) and his scheduled sentencing (September 9, 2026), without disclosing his federal conviction or the $66 million restitution obligation.
Where will Devin Elder be sentenced?: United States District Court for the Western District of Texas, San Antonio Division, before U.S. District Judge Fred Biery. 262 W. Nueva St., San Antonio, TX 78207.
What happened to DJE Texas investor funds?: Elder diverted investor funds to personal assets including Eventide Ranch (a 500-acre exotic animal ranch), a Robinson R44 helicopter (N244WB), a SOCATA TBM 700 private jet (N776RM), a Port Aransas beach house, and a personal San Antonio residence. He also used $8.8 million in new investor funds to pay fake returns to earlier investors.

Victim Impact Statements

Victims of the DJE Texas fraud may submit written victim impact statements to the U.S. Attorney's Office before sentencing. Contact: USATXW.VictimAssistance@usdoj.gov. Statements submitted before September 9, 2026 are considered by the judge in determining the sentence.

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

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