Indian-origin ex-Goldman Sachs director Rajat Gupta 'won't testify at insider trading trial'

ANI – Mon 11 Jun, 2012 10:01 AM IST

New York, June 11 (ANI): The defense lawyer for a former Indian-American Goldman Sachs director Rajat Gupta, who has been accused of insider trading, notified the judge that his client will not testify at his trial.

Attorney Gary Naftalis sent a letter to Manhattan federal court judge Jed Rakoff saying that Gupta 'will not be a witness on his own behalf in the defense case.'

Naftalis had told the judge on Friday that Gupta was 'highly likely' to testify in his defense this week.

The Attorney, however, said they decided 'after substantial reflection and consideration' that Gupta would not testify, ABC News reports.

Gupta 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 dollars hedge fund.

Rajaratnam was convicted of insider trading charges at trial last year and is serving an 11-year prison sentence. (ANI)

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