When redirecting output to a file, Powershell uses Unicode as the default encoding. Instead of using the redirection operator, you can connect to the Out-File using the -Encoding UTF8 switch.
E:\bin\iconv\iconv.exe -f cp1251 -t utf-8 $inFileName | Out-File -FilePath $outFileName -Encoding UTF8
The following TechNet article contains additional information (equivalent to Get-Help Out-File -full in Powershell v2).
In case this helps your script at all, it's worth noting that you can also use Powershell to convert the encoding.
Get-Content $inFileName -Encoding ASCII | Out-File -FilePath $outFileName -Encoding UTF8
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