Faramarz Rafii Tari, 52, and Stefan Gillier, 38, were each charged on Wednesday with one count of conspiracy to commit mail fraud and wire fraud.

Faramarz Rafii Tari, 52, and Stefan Gillier, 38, were each charged on Wednesday with one count of conspiracy to commit mail fraud and wire fraud. They each face up to 20 years in prison, U.S. Attorney Preet Bharara in New York said.U.S. prosecutors charged two men for engineering an alleged fraudulent scheme to obtain more than $7 million of aircraft parts from Honeywell International Inc (HON.N), and the Pratt & Whitney unit of United Technologies Corp (UTX.N), without paying.Lawyers for the defendants could not immediately be located. Tari is a Canadian citizen who was arrested Wednesday morning in Manhattan, while Gillier is a Belgium native who lives in Quebec and remains at large, prosecutors said.According to investigators, the defendants are co-presidents of RTF International Inc, while Tari is also president of UN Air Service Inc.RTF from 2004 to 2006 allegedly ordered $8 million of parts from Honeywell, created an apparent credit balance by paying with $16.6 million of checks, and then stopped payment on $15.8 million of these checks. They said RTF then profited by selling the parts for less than Honeywell charged.Similarly, UN Air Service in 2007 and 2008 allegedly ordered parts from Pratt & Whitney, stopped payment on checks, and sold those parts for less than it was charged.The defendants "manufactured a competitive advantage by selling aircraft parts that they allegedly never paid for," Bharara said in a statement.Honeywell is based in Morris Township, New Jersey, and United Technologies in Hartford, Connecticut.