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Pablo Calderon, 61, along with Brett C. Lillemoe, 46, of Minneapolis, submitted fraudulent documents to two United States banks in connection with a USDA loan guarantee program by which the USDA provides credit guarantees, Daly said.
The jury found that between September 2007 and January 2012, Calderone, Lillemoe and others defrauded various U.S. financial institutions, including Deutsche Bank and Colorado-based CoBank ACB, by presenting false and altered shipping documents.
The defendants then used these fraudulent documents to obtain millions of dollars from U.S. banks in connection with the USDA Export Credit Guarantee Program, and then provided the funds to the foreign banks in exchange for a percentage fee for themselves and their various entities, Daly said.
Calderone was found guilty of conspiracy to commit wire fraud and bank fraud and one count of wire fraud. He faces a maximum of 20 years in prison on each count.
He will be sentenced on Feb. 2, the Daly said.
The matter was investigated by the Federal Bureau of Investigation, Internal Revenue Service – Criminal Investigation Division and U.S. Department of Agriculture, Office of Inspector General. The case is being prosecuted by Assistant U.S. Attorneys Michael S. McGarry, John H. Durham and John T. Pierpont.
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