Defense rests at NYC insider trial

Defense rests at NYC insider trading trial of ex-Goldman Sachs board member

Associated Press

NEW YORK (AP) -- The defense has rested at the New York City trial of a former Goldman Sachs board member accused of insider trading.

Before ending their case Tuesday, lawyers for Rajat Gupta (rahj-AHT' GOOP'-tah) called his daughter to the witness stand to vouch for his character. They used other testimony and evidence to try to persuade jurors that his business dealings were legitimate.

Closing arguments are set for Wednesday in federal court in Manhattan, with deliberations expected to start on Thursday.

The 63-year-old Gupta has pleaded not guilty to charges he passed secrets he learned from Goldman's board in fall 2008 to a billionaire hedge fund founder who used the information to make millions of dollars.

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