A man from Washington County, Utah has pleaded guilty to wire fraud in connection with an investment scheme that led more than 200 victims to invest over $89 million, resulting in losses exceeding $77 million.
Matthew Shane Perkins, 47, admitted in court that between August 2023 and November 2025 he falsely presented himself as a successful day trader. He operated Forged Oak LLC and worked with the principal of RentDue Capital LLC. RentDue Capital attracted investors through social media, its website, and meetings. The company then transferred investor funds to Perkins for day trading.
Perkins provided false information about the performance and balance of the investment funds. According to court documents, he gave RentDue Capital altered records showing inflated daily trading results and brokerage statements. In one instance in early November 2025, Perkins supplied a statement claiming the funds held over $133 million when they actually contained less than $13 million.
Court records show that Perkins lost tens of millions of dollars through day trading without informing investors. He also used investor money for personal expenses such as a home down payment, purchasing a cabin, luxury vehicles, and an airplane.
As part of his plea agreement, Perkins agreed to pay restitution totaling $77,683,091.96 and to forfeit assets linked to the fraud including more than $13 million in cash, a cabin, an airplane, and several vehicles.
Perkins is scheduled for sentencing on July 8, 2026 at the U.S. District Court in St. George.
The FBI Salt Lake City Field Office (St. George Resident Agency) and IRS Criminal Investigation are handling the investigation. The case is being prosecuted by Assistant United States Attorneys Stephen P. Dent, Joseph M. Hood, and Travis K. Elder from the U.S. Attorney’s Office for the District of Utah.
