The celebrity endorsements of former KB Home chief Bruce Karatz resumed Friday morning when billionaire philanthropist Eli Broad took the witness stand to defend the character of the man federal prosecutors say made millions of dollars in illegal profits by secretly backdating stock options.
Broad, who co-founded the company that became KB Home in 1957 and later operated SunAmerica insurance company, told jurors that he had known Karatz for 38 years and considered him to be a man of impeccable integrity.
"I know of no instance in those 38 years where he's done anything unlawful or improper," Broad said under questioning from defense attorney John Keker.
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