A Utah man has pleaded guilty after prosecutors say he ran an investment fraud that took about $89 million from more than 200 people.
Matthew Shane Perkins, 47, of Washington County admitted in federal court to wire fraud connected to a scheme prosecutors say ran from August 2023 through November 2025. Authorities say Perkins presented himself as a skilled day trader and used that claim to attract and manage investor funds through a business he controlled. The case involves complex paperwork, altered brokerage statements, and millions spent on personal items.
Prosecutors say Perkins operated under the name Forged Oak LLC and entered a business arrangement with the principal of RentDue Capital LLC. RentDue Capital allegedly recruited investors into three separate funds using social media, the company website, and in-person meetings. When investors sent money to RentDue, the principal forwarded those funds to Perkins to trade on their behalf.
Once Perkins had the money, the government says he repeatedly misrepresented account balances and returns. He allegedly supplied RentDue with falsified daily trading reports and doctored brokerage statements designed to make the funds look far healthier than they were. In early November 2025, for example, an altered brokerage statement provided to RentDue falsely showed more than $133 million in the funds when the true balance was under $13 million.
The scheme collapsed under losses and misuse of investor cash, according to court records. Perkins is accused of losing tens of millions through day trading and diverting investor money for personal purchases and living expenses. Reported personal spending included a down payment on a house, a cabin, multiple luxury vehicles, and an airplane.
As part of his plea agreement, Perkins accepted responsibility for massive financial harm and agreed to a specific restitution amount. The document lists restitution at $77,683,091.96, and it requires forfeiture of funds and assets traceable to the fraud. Among the assets slated for forfeiture are more than $13 million in funds, the cabin, the airplane, and several vehicles linked to the misconduct.
Perkins faces federal sentencing on July 8, 2026, at 1:30 p.m. in courtroom 2B at the U.S. courthouse located at 206 West Tabernacle Street, St. George, Utah 84470. The schedule is set in the plea paperwork filed with the U.S. Attorney’s Office for the District of Utah. Sentencing will determine the term of imprisonment and any additional financial penalties beyond restitution and forfeiture.
The case is being investigated by the FBI Salt Lake City Field Office, the St. George Resident Agency, and IRS Criminal Investigation. Those agencies worked together to trace funds, document the alleged alterations to brokerage materials, and assemble the evidence used in the charging and plea process. The combined inquiry focused on both trading losses and alleged intentional diversion of investor capital.
The U.S. Attorney’s Office for the District of Utah is prosecuting the case, with Assistant United States Attorneys Stephen P. Dent, Joseph M. Hood, and Travis K. Elder listed as the lead prosecutors. Their filings outline how the funds flowed, the paperwork Perkins allegedly falsified, and the agreement that led to his guilty plea. Court documents provide the central timeline and the financial totals that underlie the federal counts.
This prosecution highlights how fraud schemes can combine online recruitment with paper trails intended to reassure investors. Authorities cite the use of social media, business websites, and in-person meetings by RentDue Capital to attract victims, and they emphasize the role of fabricated account statements in keeping investors unaware of the true losses. The legal outcome now waits on the sentencing hearing where the court will set Perkins’ punishment and finalize monetary remedies.
