An undocumented Mexican national living in Utah has been indicted on charges related to a securities fraud scheme that allegedly defrauded about 30 investors out of approximately $1 million. Christian Montiel-Caleit, 45, was taken into custody in West Valley City, Utah, on January 29, 2026. The indictment was unsealed following his arrest.
Court documents state that from around 2021 to December 2024, Montiel-Caleit solicited investments by claiming he was licensed to sell securities and could deliver high returns. He reportedly promised investors a 100% return within one year. Authorities allege that he used funds from new investors to pay earlier ones rather than generating actual profits, resulting in delayed payments of principal and returns for several years.
According to U.S. Immigration and Customs Enforcement (ICE), 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 of 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 for the District of Utah.
The prosecution falls under Operation Take Back America—a Department of Justice initiative aimed at addressing illegal immigration and transnational criminal organizations while protecting communities from violent crime.
“An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.”
