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Karatz Trial:Testimony Concludes In Bruce Karatz Trial

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Testimony concluded Tuesday morning in the trial of former KB Home chief Bruce Karatz, who federal prosecutors allege made $6 million in secret profits by backdating stock option grants for himself and other company executives and failing to account for it in regulatory filings.

U.S. District Judge Otis D. Wright II scheduled closing arguments for Thursday, meaning jurors would likely begin deliberations on Friday -- four weeks after testimony began in the federal courthouse in Los Angeles. The judge said he would read legal instructions to the jury on Wednesday.

Read the whole story at Los Angeles Times

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