New York: The defense lawyer for a former Goldman Sachs board member accused of insider trading notified the judge on Sunday that his client will not testify at his trial.
Attorney Gary Naftalis sent a letter to Manhattan federal court judge Jed Rakoff saying that Rajat Gupta "will not be a witness on his own behalf in the defense case."
The attorney had told the judge on Friday that Mr Gupta was "highly likely" to testify in his defense this week. But Mr Naftalis said they decided "after substantial reflection and consideration" that Mr Gupta would not testify.
Mr Gupta, who has pleaded not guilty, is charged with conspiring to reveal board secrets that enabled one-time billionaire and hedge fund founder Raj Rajaratnam to make lucrative trades for his $7 billion hedge fund. Mr Rajaratnam was convicted of insider trading charges at trial last year and is serving an 11-year prison sentence.
Prosecutors have claimed that Mr Gupta hurried to feed Sri Lankan-born Mr Rajaratnam news that Goldman was going to receive a $5 billion investment from Warren Buffett's Berkshire Hathaway and that Goldman was going to surprise analysts and investors by reporting its first loss.
Attorney Gary Naftalis sent a letter to Manhattan federal court judge Jed Rakoff saying that Rajat Gupta "will not be a witness on his own behalf in the defense case."
The attorney had told the judge on Friday that Mr Gupta was "highly likely" to testify in his defense this week. But Mr Naftalis said they decided "after substantial reflection and consideration" that Mr Gupta would not testify.
Prosecutors have claimed that Mr Gupta hurried to feed Sri Lankan-born Mr Rajaratnam news that Goldman was going to receive a $5 billion investment from Warren Buffett's Berkshire Hathaway and that Goldman was going to surprise analysts and investors by reporting its first loss.
Advertisement
COMMENTS
Advertisement
In 2024 Union Budget, Focus Likely On Jobs, Rural India: Goldman Sachs Woman, 28, Was Earning 6 Figure Salary But Quit Goldman Sachs. Here's Why She Was Set To Break Goldman Sachs' Glass Ceiling. Now She Is Leaving Trinamool MP Summoned By Cops Over "Sniffer Dog" Claim In Rape-Murder Probe "Here For Personal Work": Hemant Soren Aide In Delhi Amid Switchover Buzz Indian-Origin Family, On Way To Daughter's College, Killed In US Car Crash CBI Begins Psychological Test Of Kolkata Rape-Murder Accused Trinamool MP Summoned By Cops Over "Sniffer Dog" Claim In Rape-Murder Probe Kareena Kapoor's "Saturday Night Date" Features This Dreamy Dessert - See Pic Track Latest News Live on NDTV.com and get news updates from India and around the world.