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.

Submit a Victim Impact Statement | USA v. Devin Ward Elder | Case 5:26-CR-00038-FB

If you are one of the 345 investors defrauded by Devin Ward Elder through DJE Texas Management Group, you have the right to submit a Victim Impact Statement before sentencing on September 9, 2026. Statements directly influence the sentence under the Crime Victims' Rights Act (18 U.S.C. § 3771).

Why Victim Impact Statements Matter

Directly Influences the Sentence: Federal judges must consider victim impact statements before sentencing. A single powerful statement can shift the judge's understanding of the harm caused. 345 statements create an undeniable record.
Strengthens Your Restitution Claim: Clearly documented financial losses strengthen your position in the restitution calculation. Vague claims receive less weight than specific, documented ones.
Your Voice on the Public Record: Victim impact statements become part of the permanent federal court record. They are reviewed by the probation officer preparing the Pre-Sentence Investigation Report, which the judge relies on heavily.

What to Include in Your Statement

Financial Harm: Exact amount invested, when you invested, what you have recovered (if anything). Include lost returns, fees, downstream consequences (retirement funds depleted, loans taken, property sold).
Mental & Physical Health Impact: Anxiety, depression, sleep disruption, stress-related health conditions. Include cost of any medical or mental health treatment sought.
Family & Relationship Impact: How the loss affected your spouse, children, dependents. Changes to retirement plans, education plans, standard of living.
Loss of Trust & Security: How the fraud affected your sense of financial security and ability to trust advisors.
How You Were Solicited: Personal relationship, church community, professional network, social media advertisement.
Ongoing Fear or Distress: Concerns about financial future, ability to retire, family security.

How to Submit

Victim Witness Coordinator: Alicia Lucky
Email: USATXW.VictimAssistance@usdoj.gov
Subject line: Victim Impact Statement, USA v. Elder, Case 5:26-cr-00038-FB
Mail: U.S. Attorney's Office, Western District of Texas, 601 NW Loop 410, Suite 600, San Antonio, TX 78216
Deadline: Before September 9, 2026 sentencing

Key Dates

Guilty Plea: February 17, 2026
Sentencing: September 9, 2026 at 9:00 AM CT
Location: U.S. Courthouse, 262 W. Nueva St., San Antonio, TX 78207
Judge: Fred Biery
Maximum Sentence: 20 years federal prison

Available Resources

Information About Victim Impact Statements (includes sample questions to guide your statement)
Restitution Brochure (explains how restitution is calculated)
Explanation of Loss (documents how to calculate and present your financial losses)

This page is a public-interest resource for victims of the DJE Texas Management Group fraud.

Return to homepage