Utah Man Pleads Guilty to $89M Investment Fraud That Targeted Over 200 Victims

A Utah man admitted to his role in a fraudulent investment scheme that tricked 200 victims out of about $89 million.

Matthew Shane Perkins, 47, of Washington County, pleaded guilty to wire fraud.

Court documents say that between August 2023 and November 2025, Perkins fraudulently claimed he was 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 to three separate funds through social media, the company’s website, and meetings with investors. When RentDue Capital received investors’ money, the principal sent the funds to Perkins to day trade.

Perkins made repeated false representations regarding the funds’ performance and balance. 

He allegedly provided records to RentDue Capital that falsified daily trading performance and altered 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, a down payment on a home, and the purchase of a cabin, luxury vehicles, and an airplane, 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 airplane, 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.

The FBI Salt Lake City Field Office, St. George Resident Agency and IRS Criminal Investigation are investigating the case.  

Assistant United States Attorneys Stephen P. Dent, Joseph M. Hood, and Travis K. Elder of the U.S. Attorney’s Office for the District of Utah are prosecuting the case.

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A Utah man admitted to his role in a fraudulent investment scheme that tricked 200 victims out of about $89 million.

Matthew Shane Perkins, 47, of Washington County, pleaded guilty to wire fraud.

Court documents say that between August 2023 and November 2025, Perkins fraudulently claimed he was 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 to three separate funds through social media, the company’s website, and meetings with investors. When RentDue Capital received investors’ money, the principal sent the funds to Perkins to day trade.

Perkins made repeated false representations regarding the funds’ performance and balance. 

He allegedly provided records to RentDue Capital that falsified daily trading performance and altered 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, a down payment on a home, and the purchase of a cabin, luxury vehicles, and an airplane, 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 airplane, 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.

The FBI Salt Lake City Field Office, St. George Resident Agency and IRS Criminal Investigation are investigating the case.  

Assistant United States Attorneys Stephen P. Dent, Joseph M. Hood, and Travis K. Elder of the U.S. Attorney’s Office for the District of Utah are prosecuting the case.

Editor’s Note: Do you enjoy Townhall’s conservative reporting that takes on the radical left and woke media? Support our work so that we can continue to bring you the truth.

Join Townhall VIP and use promo code FIGHT to receive 60% off your membership.