Prosecutors have argued that the three former traders continued to lie even after Litvak was arrested, while their attorneys contend that they changed their ways afterwards. Defense lawyers failed to block prosecutors for mentioning the Litvak case.
Chao’s testimony comes after that of Frank DiNucci Jr., the trial’s first witness, who told jurors that he was taught to deceive clients shortly after coming to the company in 2009 and continued to use the tactics even after leaving in 2012. Defense attorneys have painted DiNucci as a serial liar and criminal who even stole money from his own mother.
The trial, which began May 8, is expected to last into early June.
This article was provided by Bloomberg News.