“I would prefer not to talkon phone,” Cohen responded.

Horvath, who pleaded guilty last year to conspiracy and two counts of securities fraud, is scheduled to testify further today. Steinberg, who is charged with conspiracy and four counts of securities fraud, has pleaded not guilty.

The case is U.S. v. Newman, 12-cr-00121, U.S. District Court, Southern District of New York (Manhattan).

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