An indictment has been unsealed against Christian Montiel-Caleit, a 45-year-old Mexican national living in West Valley City, Utah. Authorities allege that Montiel-Caleit collected about $1 million from roughly 30 investors through a securities fraud scheme while not being licensed to sell securities.
Montiel-Caleit was taken into custody on January 29, 2026, following a federal grand jury indictment issued the previous day. Court documents state that between 2021 and December 2024, he deceived investors by claiming he was licensed and could deliver high returns. According to the allegations, he promised investors returns of 100% within a year but did not generate actual profits. Instead, funds paid to some investors came from other investors’ contributions. Many investors did not receive their principal or expected investment returns on time.
U.S. Immigration and Customs Enforcement (ICE) reported that Montiel-Caleit is in the United States illegally and had previously been removed from the country on March 2, 2006.
Montiel-Caleit faces charges including securities fraud, wire fraud, money laundering, and illegal reentry after removal. His initial court appearance took place on January 30, 2026. A jury trial is scheduled for April 7, 2026 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 is being conducted by 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.
The prosecution is part of Operation Take Back America, an initiative by the Department of Justice aimed at combating illegal immigration and transnational criminal organizations.
“An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.”
