Previously removed undocumented Mexican national indicted for $1m Ponzi scheme that defrauded approximately 30 investors in Utah

Date: Feb. 2, 2026

Contact: [email protected]

Salt Lake City, UT - An indictment was unsealed and an undocumented Mexican national living in Utah was taken into custody after he allegedly collected approximately $1 million from approximately 30 investors in a securities fraud scheme, when he was not licensed to sell securities.

Christian Montiel-Caleit of Mexico was living in West Valley City, Utah, when authorities took him into custody on January 29, 2026, following a federal grand jury indictment a day prior.

According to the allegations in court documents, beginning about 2021 and continuing to about December 2024, Montiel-Caleit, fraudulently obtained money by deceiving investors into thinking he was licensed to sell securities and successful at making large returns. For example, to secure investments, Montiel-Caleit would lie to investors by promising 100% returns in 12 months, when in fact he did not generate returns as represented; payments made to investors were derived from other investors instead of actual returns, and on a routine basis for years, investors did not timely receive their principal and investment returns as promised.

According to U.S. Immigration and Customs Enforcement (ICE), Montiel-Caleit is in the United States illegally and was previously removed on March 2, 2006.

Montiel-Caleit is charged with securities fraud, wire fraud, money laundering and illegal reentry of a previously removed alien. His initial appearance on the indictment was January 30, 2026. A 10-day jury trial is scheduled for April 7, 2026, at 10:00 a.m. in courtroom 7.3 before a U.S. District Court Judge at the Orrin G. Hatch United States District Courthouse in downtown Salt Lake City.

United States Attorney Melissa Holyoak of the District of Utah made the announcement.

The case is being investigated jointly by Internal Revenue Service, Criminal Investigation (IRS-CI), the Utah Division of Securities, FBI Salt Lake City Field Office, and U.S. Immigration and Customs Enforcement (ICE).

Assistant United States Attorneys Mark E. Woolf and Jacob Strain of the United States Attorney's Office for the District of Utah 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.

IRS Criminal Investigation (IRS-CI) is the law enforcement arm of the IRS, responsible for conducting financial crime investigations, including tax fraud, narcotics trafficking, money laundering, public corruption, healthcare fraud, identity theft and more. IRS-CI special agents are the only federal law enforcement agents with investigative jurisdiction over violations of the Internal Revenue Code, obtaining a 90% federal conviction rate. The agency has 19 field offices located across the U.S. and 14 attaché posts abroad.