NEW YORK — A lawyer for a former Goldman Sachs board member accused of insider trading says he's a victim of guilt by association.
In closing arguments Wednesday at the insider trading trial, Rajat Gupta's (rahj-AHT' GOOP'-tah) attorney said there's no evidence he ever profited from illicit trades made by a disgraced hedge fund manager he's known for years.
Earlier, a federal prosecutor said Gupta abused his position as a corporate insider by giving his friend information that "the average ordinary investor had no way of knowing."
The jury is expected to begin deliberating on Thursday.
The 63-year-old Gupta has pleaded not guilty. Prosecutors allege he passed secrets he learned from Goldman's board in fall 2008 to the billionaire hedge fund founder, who used the information to make millions of dollars.