The defense team rested its case Monday in the insider trading trial of Galleon Group founder Raj Rajaratnam, who is accused of profiting from information passed to him by corporate insiders.

Rajaratnam’s lawyers claimed that he used information from analyst research reports, media reports and other information that was available to the public to make investment decisions and not, as prosecutors allege, illegal tips.

The defense called several witnesses to testify about the timing of Rajaratnam’s trades and compare them to what was available in the public domain at the time he purchased particular securities.

Prosecutors called several people who were implicated in the conspiracy and have since pleaded guilty to conspiracy of securities fraud charges. Several admitted on the witness stand they passed confidential corporate information to Rajaratnam.

The government also played recordings of conversations between Rajaratnam and his alleged tipsters, such as Goldman Sachs director Rajat Gupta who supposedly passed one piece of information to Rajaratnam that earned him $1 million in two minutes.

Prosecutors allege Rajaratnam, who was arrest in October of 2009, earned $63.8 million between 2003 and 2009 using illicitly-obtained information. Of the 26 people originally charged in the case, 19 have pleaded guilty.

Rajaratnam is charged with five counts of conspiracy and nine counts of securities fraud.

Closing statements are scheduled to begin in Manhattan federal court Wednesday.