An undocumented Mexican national has been indicted in Utah for allegedly running a $1 million Ponzi scheme that defrauded around 30 investors. Christian Montiel-Caleit, 45, was taken into custody in West Valley City on January 29, 2026, after a federal grand jury indictment.
Court documents allege that from about 2021 to December 2024, Montiel-Caleit deceived investors by claiming he was licensed to sell securities and could deliver high returns. Authorities say he promised investors 100% returns within a year but instead used money from new investors to pay previous ones. Many investors did not receive their principal or promised returns as scheduled.
U.S. Immigration and Customs Enforcement (ICE) stated that Montiel-Caleit is in the country illegally and had previously been removed on March 2, 2006.
Montiel-Caleit faces charges of securities fraud, wire fraud, money laundering, and illegal reentry of a previously removed alien. His initial court appearance took place on January 30, with a jury trial set for April 7 at the Orrin G. Hatch United States District Courthouse in Salt Lake City.
United States Attorney Melissa Holyoak for the District of Utah announced the indictment. The investigation involves the Utah Division of Securities, FBI Salt Lake City Field Office, Internal Revenue Service Criminal Investigation (IRS-CI), and ICE.
Assistant United States Attorneys Mark E. Woolf and Jacob Strain are prosecuting the case.
"This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime."
Authorities remind that an indictment is an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in court.
