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Rajat Gupta, the former McKinsey & Co. executive and Goldman Sachs board member, will not testify in his own defence in the insider trading case against him, CNBC’s Bertha Coombs reports. His lead defence attorney Gary Naftalis had indicated on Friday that it was “highly likely” Gupta would testify, but changed his mind on Sunday in a letter to Judge Jed Rakoff, according to the report.
That means closing remarks could come as early as Wednesday, the report said.
Gupta has been charged with passing secrets to Raj Rajaratnam while he was serving on the boards of Goldman Sachs and Procter & Gamble.
Disgraced Galleon chief Rajaratnam is currently serving 11 years in federal prison for orchestrating one of the largest insider trading circles in history.