A Washington County man has pleaded guilty to wire fraud in connection with an investment scheme that affected more than 200 people and resulted in losses exceeding $77 million. Matthew Shane Perkins, 47, admitted to orchestrating the scheme through his company Forged Oak LLC between August 2023 and November 2025.
Court documents state that Perkins falsely claimed to be a successful day trader and entered into a business arrangement with RentDue Capital LLC. RentDue Capital recruited investors for three funds using social media, its website, and meetings. The principal of RentDue Capital then transferred investor money to Perkins for trading.
Perkins provided false information about the performance and balances of the funds, including altered brokerage statements. In one instance in early November 2025, he gave RentDue Capital a statement showing over $133 million in the funds when there was actually less than $13 million.
Authorities say Perkins lost tens of millions of dollars while day trading without informing investors. He also used millions from investors for personal expenses such as buying a home, cabin, luxury vehicles, and an airplane.
As part of his plea agreement, Perkins will pay restitution totaling $77,683,091.96 and forfeit assets linked to the fraud. These include more than $13 million in cash, a cabin, an airplane, and several vehicles.
Sentencing is scheduled for July 8, 2026 at the U.S. District Court in St. George.
The investigation was conducted by the FBI Salt Lake City Field Office (St. George Resident Agency) and IRS Criminal Investigation. Assistant United States Attorneys Stephen P. Dent, Joseph M. Hood, and Travis K. Elder are prosecuting the case.
“Today’s announcement demonstrates our commitment to pursuing those who exploit others for financial gain,” said Acting United States Attorney Felice John Viti for the District of Utah.
