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Associated Press
New Haven, Conn.

2nd man convicted on federal conspiracy and fraud charges

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Men from Connecticut and Minnesota have been convicted for their roles in a multimillion dollar scheme that defrauded banks participating in a federal loan program designed to finance exports.

The Stamford Advocate reports that 61-year-old Pablo Calderon, of Darien, and 46-year-old Brett Lillemoe, of Minneapolis, were convicted Wednesday of conspiracy and fraud charges following a monthlong trial in New Haven federal court.

Prosecutors say between September 2007 and January 2012 the defendants filed fraudulent documents under a U.S. Department of Agriculture program to secure loans and collect fees on the transactions.

As a result, foreign banks defaulted on more than $25 million worth of loans for which the USDA was required to pay out the guarantees.

Sentencing is scheduled for February.

A third defendant was acquitted.