A Washington County, Utah, man admitted to his role in a fraudulent investment scheme that resulted in over 200 victims investing over $89 million, with an outstanding loss of over $77 million.
Matthew Shane Perkins, 47, of Washington County, pleaded guilty to wire fraud on Monday.
According to court documents and admissions made at Perkins’s change-of-plea hearing, between August 2023 and November 2025, Perkins fraudulently claimed to be a successful day trader with a track record of success.
He operated Forged Oak LLC and established a business arrangement with the principal of RentDue Capital LLC.
RentDue Capital recruited investors for three separate funds through social media, the company’s website, and in-person meetings. When RentDue Capital received investors’ funds, the principal sent the funds to Perkins to day-trade.
Perkins made repeated false representations regarding the funds’ performance and balance. This included providing records to RentDue Capital that falsified daily trading performance and altering brokerage statements to inflate the funds’ balance.
In early November 2025, for example, Perkins provided RentDue Capital with an altered brokerage statement representing that over $133 million was in the funds. At that time, however, the funds had less than $13 million.
Unbeknownst to investors, Perkins lost tens of millions of dollars in day trading. He also misappropriated millions of dollars from investors for personal expenses, for a down payment on a home, and to purchase a cabin, luxury vehicles, and an aeroplane, among other things.
In the plea agreement, Perkins agreed to restitution of $77,683,091.96. He also agreed to forfeit money and assets traceable to fraud, including over $13 million, a cabin, an aeroplane, and multiple vehicles.
Perkins is scheduled to be sentenced July 8, 2026, at 1:30 p.m. before a U.S. District Court Judge in courtroom 2B of the courthouse located at 206 West Tabernacle Street, St. George, Utah 84470.
