UPDATE: February 5, 2026
A Personal Clarification

I want to address a few things directly.

For the past 92 days, I have been operating under constant pressure — pressure to say the right thing, pressure to not say the wrong thing, pressure from an active legal process, and pressure from the very real fear of causing additional harm. In trying to navigate lawyers, the FBI, and an ongoing investigation, I went from communicating regularly with investors to saying almost nothing.

I recognize how that silence looks.
The truth matters.

For that, I am genuinely sorry. I am doing my best under circumstances I never expected to face.

That silence may have made it seem like I was detached or unconcerned about what some investors have gone through. That was never the case. Investors have been affected in different ways — some materially, some emotionally, some not at all — but I fully acknowledge that there are investors who are hurting. I see that, and I carry that with me.

When I left my meeting with the FBI and learned that my partner, Shane Perkins, had been fabricating brokerage statements, it was devastating. It marked the beginning of some of the darkest days of my life.

Because there has been misinformation circulating, I want to clarify a few factual points.

My Personal Capital and Reported Balances

Before the fund existed and before any outside investors participated, I invested $2,830,000 of my own principal.

Based on the brokerage statements and daily balance updates I was receiving at the time, that capital appeared to grow to approximately $4.4+ million prior to the formal launch of the fund. It is critical to understand that this figure — like all subsequent reported balances — was based entirely on brokerage statements and reporting that were later admitted in court to be false.

As the fund progressed, the balances reported to me continued to increase. At their peak, the statements reflected that my personal account balance had reached in excess of $18 million.

To be absolutely clear:
That $18+ million figure was growth and principle.
It was a reported balance derived from fabricated brokerage statements.

Only Mr. Perkins and the FBI know precisely when trading losses began. I have been informed by law enforcement that losses occurred before the fund was operational, meaning the apparent growth reflected in the statements was phantom growth. I have not been provided exact dates or amounts.

I continued to add personal capital throughout the life of the fund, relying on the daily, weekly and mothly Statements. Which I would also provided to investors. My final significant deposit occurred in August 2025, consisting of more than $800,000, which came from the sale of three personally owned Airbnb properties. Those funds were originally set aside for taxes and were placed into the account.

I remained fully invested until I contacted the FBI and the accounts were taken over.

Did I have access to the Trading Accounts?

I did not have direct access to where I could just logon anywhere to the brokerage accounts.

Mr. Perkins insisted on controlling the accounts in order to protect what he described as proprietary trading strategies. In lieu of access, he provided:

Daily balance updates

Weekly statements of account printed from the broker statement of balance verifying new deposits

Monthly first-page brokerage statements confirming balances and liquidity

Those statements were available to investors upon request.

The materials were internally consistent, which is why no discrepancies were detected at the time. We communicated daily. He was a business partner I trusted.

I did not discover the fabrication until the FBI showed me contradictory records after I contacted them regarding a rumor I had heard.

Disclosure of Mr. Perkins’ Identity

I have been asked why Mr. Perkins’ last name was not broadly disclosed at the outset.

At the time the fund was formed, Shane was working with an established Discord-based trading community and was focused entirely on trading. He expressed a desire to remain behind the scenes so he could focus on his craft, and I respected that request. He wanted to become the best trader out there which he would say all the time. In hindsight was that his real intent?

I want say this again and be clear about what happened.

I did not know there was any fraud until November 3rd. I was the one who called the FBI after something didn’t feel right. During that meeting, I was shown a statement that didn’t match what I had been seeing—that’s when I learned the truth. It became clear that I had been misled and was also a victim in this situation.

I was also one of the largest investors. I put in millions of my own money and continued adding to it because I believed the reporting.

I did not take investor money for personal gain, and I did not benefit from this.

If anything, I lost significantly—time, money, my reputation, friendships, and businesses I spent years building.

The hardest part is that I genuinely believed I was helping people, and I hate that anyone was hurt. I still can’t believe Shane—someone I trusted and considered a friend—would do this.

There has been a lot of speculation and assumptions from different directions, and there’s no need for that.

The facts are enough:

– I learned about the fraud on November 3rd at the FBI
– I relied on the daily, weekly, and monthly reporting and statements provided, which were not accurate.
– I invested heavily myself and lost alongside everyone else
– I did not benefit from investor funds
– Shane has pleaded guilty and agreed to full restitution to investors.

To everyone who has reached out with support, kindness, and care—it truly means more than I can put into words, especially with everything I’m facing. Thank you!

Hang in there everyone!

— Jace

Moving Forward

I saw Shane in person for the first time, since the FBI visit, at the plea hearing. He looked defeated and broken. That does not excuse the forging of statements or the harm caused to investors — but in order for me to breathe a little easier, I have had to let go of hate, anger, or a desire for vengeance!

I hope this answers some question.

– Jace

UPDATE: Feb 3, 2026:

On February 2, 2026, Shane Perkins entered a guilty plea in federal court to wire fraud in connection with false brokerage statements and reporting. As part of the plea, Mr. Perkins admitted that he fabricated account balances and performance data and that trading losses had occurred. The court accepted the plea, and sentencing is scheduled for July 8, 2026. The plea agreement includes restitution in the amount of $77,683,091.96.

I cooperated fully with law enforcement throughout the investigation. I invested substantial personal capital and time in the fund. I did not receive any compensation or financial benefit from the fund. I did not have access to, or control over, the brokerage accounts or the generation of account statements. Mr. Perkins was responsible for trading operations and brokerage reporting.

Before the fund existed and before any outside investors were involved, I had already invested $2,830,000 of my own money. According to the statement I had approximately $4.4+ million prior to the formal launch of the fund.I continued to add personal capital over the months that followed, including a final investment of more than $800,000 in August 2025. —I remained invested until I contacted the FBI and they took over the accounts. During that meeting, inconsistencies in the brokerage statements were identified, and it was at that time I learned that Mr. Perkins had been forging statements.

This situation has had a significant impact on many investors, and I recognize the stress and hardship it has caused for them and their families. It has also resulted in serious personal and professional consequences for me. I appreciate the patience, kindness, and understanding shown as the legal process continues.

The criminal case against Mr. Perkins is proceeding through sentencing and restitution. I remain fully cooperative with law enforcement.

– Jace