WASHINGTON - The federal jury that began deliberating Lance Wilson's fate here this week could convict the former PaineWebber Inc. vice president on conspiracy charges, even if it finds that none of his actions were in themselves illegal, according to attorneys and the judge in the case.

In 20 out of 21 counts pending against him, Wilson is charged with making false statements and defrauding the Housing and Urban Development Department by writing bond financing commitment letters solely to help a codefendant, Leonard Briscoe, obtain Urban Development Action Grants for Florida and Texas housing projects.

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