NEW YORK (AP) — The government's insider trading case against a San Francisco hedge fund founder has gone to a jury in New York after a day of closing arguments.
The jury deliberating the fate of Doug Whitman began its work Friday and later went home without reaching a verdict. The jury resumes deliberations Monday.
Assistant U.S. Attorney Jillian Berman urged the jurors to convict Whitman. She says greed got the best of him, causing him to cheat to get an advantage in the stock market. She says jurors shouldn't believe "the story he spun on the witness stand."
But defense lawyer David Anderson urged acquittal. He says a close look at the evidence will reveal the government failed to prove its case. He says his client never believed his research efforts amounted to insider trading.