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Goldman CEO testifies for government at NY insider trading trial of ex-Goldman board member
NEW YORK (AP) ' A prize government witness, Goldman Sachs chief executive Lloyd Blankfein (BLANK'-fyn), has resumed testifying at the New York insider trading trial of a former Goldman board member.
Blankfein told the Manhattan jury earlier this week that he initially planned to force Rajat Gupta (rahj-AHT' GOOP'-tah) off the banking giant's board in 2008 because of a conflict of interest. Instead, he was asked to stay on due to the economic crisis.
Blankfein was called as a witness to support government claims that Gupta broke confidentiality promises and spilled company secrets to a billionaire hedge fund boss. Gupta's lawyers have promised an extensive cross examination of Blankfein that will likely stretch into Friday.
Blankfein is the government's last witness. The trial is expected to wrap up next week.