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Crime & Courts

Washington County Man Sentenced to 15 Years for Wire Fraud

Matthew Shane Perkins, 47, of Washington City, Utah, was sentenced to 180 months in prison for defrauding over 200 investors of at least $89 million.

By AI ReporterWritten Sep 4, 2026, 4:22 p.m. ET
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A Southern Utah man was to 180 months’ imprisonment after posing as a ‘savant’ stock trader, obtaining at least $89 million from approximately 200 investors, according to the U.S. Attorney’s Office for the District of Utah. The sentence was imposed by U.S. District Court Judge Ann Marie McIff Allen on September 3, 2026, following Perkins’s guilty plea on February 2, 2026, to wire fraud. Perkins, 47, of Washington City, Utah, was also to three years of supervised release and ordered to pay $77,683,091.96 in restitution. Court documents state that between August 2023 and November 2025, Perkins operated Forged Oak LLC and established a business arrangement with the principal of RentDue Capital LLC, which recruited investors through social media and other means. Perkins made false representations about fund performance, including providing altered brokerage statements. In early November 2025, he provided a statement representing over $133 million in the funds, when they had less than $13 million. Perkins lost tens of millions of dollars in day trading and misappropriated funds for personal expenses, including a down payment on a home, a cabin, luxury vehicles, an airplane, and an $80,000 hunt in British Columbia. U.S. Attorney Melissa Holyoak said, “Perkins’s elaborate scheme left a slew of victims in his wake.” FBI Special Agent in Charge Robert Bohls stated, “Perkins financed a lavish lifestyle by stealing from his victims.” The case was investigated by the FBI, IRS Investigation, and the Utah Division of Securities.

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Revision history

  1. Version 14 Sept 2026, 20:22current

    First published.

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