Bloomberg reports that Rajat Gupta, former Goldman director,
will probably testify next week at his insider-trading trial, his lawyer told
the judge after the prosecution rested and the defense began presenting its
case.
“It was represented to me at the sidebar that Mr. Gupta
would likely take the stand, given the background of what the court has said?”
U.S. District Judge Jed Rakoff asked Gupta’s defense lawyers yesterday after
jurors were dismissed for the weekend.
“I can say that it’s highly likely that my client will
testify,” attorney Gary Naftalis answered.
Gupta, who ran McKinsey & Co. from 1994 to 2003, is
accused of leaking secret tips to Raj Rajaratnam, co-founder of hedge- fund
company Galleon Group LLC, about Goldman Sachs and Procter & Gamble Co.
(PG), where Gupta was also a director. Gupta
has pleaded not guilty to one count of conspiracy and five counts of securities
fraud, which carries a maximum term of 20 years in prison….
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