Utah Division of Securities Investor Alert: RentDue Capital

The Utah Division of Securities (Division) has taken action against RentDue Capital LLC and associated entities and operators, including Jeffrey Jace Vernon, Matthew Shane Perkins, Talease Perkins, and the entities:

RentDue Capital Fund 1, LLC
RentDue Capital Fund 2, LLC
RentDue Capital Fund 3, LLC
RentDue Capital Qualified Fund, LLC
Forged Oak, LLC
720 Empire, LLC

A civil case has been filed in state court, and the Court has made no liability determination other than as set forth in the preliminary injunction order. The Division bears the burden of proving the facts by a preponderance of the evidence.

Copies of a portion of the filing can be found here:

Complaint
,
Court Order
, and
Motion for Preliminary Injunction

Investor Survey

If you have invested with RentDue Capital or have had contact with their representatives and have not already completed the Division’s investor survey, please report your experience here:
https://forms.gle/Yhixn3KNtUzQVe1A6

Supporting documents related to your investment can be emailed to: investorsurvey@utah.gov

FAQs

CourtXchange provides summary information about cases. This includes information such as the names of the parties, their addresses (if available), assigned judges, attorneys of record, documents filed, hearings held, judgments entered, and the outcomes of completed cases. Images of public documents filed in district court cases are available for purchase on Xchange here:
https://www.utcourts.gov/en/court-records-publications/records/xchange.html

Your testimony may be required. If your testimony is needed in the case, you will be contacted, and arrangements will be made for your attendance at a scheduled time.

Restitution to investors varies from case to case, and many factors determine how much, if any, an investor may receive back. Additionally, restitution depends on the existence of assets or funds to seize or recoup. We will make efforts to obtain restitution from the defendants, but this is dependent on various factors, including whether any funds remain to be recouped. Unfortunately, there is no guarantee, and the timeline for restitution is contingent on a variety of factors. Restitution owed by Matthew Shane Perkins will be addressed through the criminal process in the federal criminal case. Restitution potentially owed by other defendants in the Division’s case has not yet been determined or ordered. If restitution is ordered and funds exist for the benefit of victims, they will be processed through the state court.

Once a court issues an order of restitution, the government will pursue various means to enforce it, as its resources permit, on behalf of identified victims. Realistically, however, the chance of full recovery is very low. Many defendants will not have sufficient assets to repay their victims. Many defendants already owe very large restitution amounts to numerous victims. While defendants may make partial payments toward the full restitution, it is rare for them to pay the entire amount. If and when a defendant pays, you will most likely receive a series of small payments over a long period of time, likely through the court clerk’s office. While enforcement efforts may benefit you as a victim of a crime, no employee of the District Attorney or Division of Securities is your attorney. We strongly encourage you to discuss restitution and all enforcement mechanisms with an attorney and your accountant, tax preparer, or CPA. If the restitution order does not cover all of your losses or if the restitution order is not due and payable in full immediately, or if the laws of your state provide you an effective means by which to enforce the collection of the restitution civilly, your attorney can help you understand your options and, if necessary, formulate a plan for civil enforcement that will complement the government’s efforts.

We can’t always predict the next step of an investigation or legal proceeding. Each case is different, and many factors can affect what will or can occur in any given scenario. Please see the resource link for how State court or Federal court cases work, including general processes.

Matthew Shane Perkins, the trader of RentDue Capital funds, pleaded guilty in February 2026 to one count of wire fraud in the amount of $2 million dollars and has agreed to pay restitution of $77,683,094.96. Perkins has admitted to his role in creating fabricated account statements to hide tens of millions of dollars in losses from day trading. No others have been criminally charged at this time. 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. Victims have a right to be present at the sentencing proceedings and provide a statement to the court. Information about the case can be found here:
https://www.justice.gov/usao-ut/pr/southern-utah-man-admits-wire-fraud-89m-investment-scheme-over-200-victims

The FBI is continuing its efforts to identify investors in RentDue Capital. Victims may be eligible for certain services, restitution, and rights under federal and/or state law. Your responses are voluntary but may be useful in the federal investigation and to identify you as a potential victim. To file a statement with the FBI, go to:
https://forms.fbi.gov/victims/RentDueCase

The cases differ in their purpose, jurisdiction, prospective penalties, and the defendants named. The State of Utah, Division of Securities, filed a civil case against the following named defendants for violations of state securities laws:

RENTDUE CAPITAL LLC

720 EMPIRE LLC

RENTDUE CAPITAL FUND 1 LLC

RENTDUE CAPITAL FUND 2 LLC

RENTDUE CAPITAL FUND 3 LLC

RENTDUE CAPITAL QUALIFIED FUND

JEFFREY JACE VERNON

MATTHEW SHANE PERKINS

FORGED OAK LLC

TALEASE PERKINS

The State of Utah (the Division) is seeking comprehensive legal and financial relief through several measures: it requests preliminary and permanent injunctions to stop the Defendants from further violating the Utah Uniform Securities Act, an asset freeze to prevent the dissipation or concealment of property/assets, and a strict prohibition against destroying or altering business records such as financial documents, emails, and text messages. Furthermore, the Division is asking the court to order the Defendants to pay full restitution to defrauded investors, disgorge all ill-gotten gains with prejudgment interest, and pay civil monetary penalties for their misconduct. Finally, the Division seeks the recovery of investigative costs and attorney’s fees, along with an order for expedited discovery to facilitate the immediate production of necessary documents.

The federal criminal case USA v. Perkins (4:26-cr-00004) involves the defendant, Matthew Shane Perkins, for violations of the federal criminal code that may result in incarceration, asset forfeiture, and an order of criminal restitution of the $77 million in principal. No other parties are named in this case.

The goal of both cases is to pursue multiple avenues to stop the conduct, prevent the further loss of assets, and seek justice for the over 200 victims who lost an estimated $77 million in principal.