Rajat Gupta likely to testify at own trial
The likelihood of Gupta giving his version of events was revealed in a series of exchanges between the judge and his main defense lawyer in U.S. District Court in New York on Friday afternoon after the jury had been sent home for the weekend.
"It's highly likely my client will testify," the lawyer, Gary Naftalis, told Judge Jed Rakoff.
Naftalis cautioned that Gupta may change his mind about testifying, but the judge said the defense must notify federal prosecutors in a timely way. Rakoff said he expected all of Tuesday to be taken up with Gupta's testimony. The trial began on May 21 and closing arguments are expected on Wednesday.
Gupta's decision, while relatively rare, is not unprecedented in high profile white collar crime trials. Chief executives such as WorldCom's Bernie Ebbers, Tyco's TCY.N Dennis Kozlowski and Enron's Jeffrey Skilling, each took the stand at their trials. The were all convicted.
Gupta, 63, is fighting charges that he illegally divulged financial information to his one-time friend and business associate, Galleon Group founder Rajaratnam, between March 2007 and January 2009 while serving on the boards of Goldman and Procter & Gamble Co (PG.N).
Rajaratnam, who was convicted last year and is serving an 11-year prison term, opted not to testify in his own defense. If convicted on charges
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