Jen Shah and her assistant Stuart Smith were arrested on federal fraud charges.
Shah and Smith are cast members on Bravo's "Real Housewives of Salt Lake City."
The reality TV personality is accused of running a nationwide telemarketing and money laundering scheme.
A 10-page indictment accuses Shah and Smith of defrauding victims older than age 55.
The victims were charged thousands of dollars to receive unspecified services which "provided little to no value to the victims."
Shah, 47, struggled to explain what she did for a living on a recent episode of Watch What Happens Live with Andy Cohen.
"My background is in direct response marketing for about twenty years," she said. "Our company does advertising. We have a platform that helps people acquire customers."
She claimed to be the founder and owner of JAX Fashion, Shah Beauty and The Real Shah Lashes. But prosecutors say Shah's businesses are nonexistent.
Shah appeared in federal court on Tuesday. She was released and ordered to turn over her passport.
She is not allowed to leave Utah without the judge's approval. Shah also is not allowed to participate in telemarketing schemes.
She is set to appear in a federal court in Manhattan via CCTV on Wednesday.
Shah is the wife of University of Utah football coach Sharrieff Shah. They share two grown sons together.