NEW YORK, NY November 06, 2009 —Closing arguments have wrapped up in the first criminal trial of former Wall Street executives related to the subprime mortgage crisis. Ralph Cioffi and Matthew Tannin are accused of misleading investors about the health of their Bear Stearns hedge funds, which collapsed in the summer of 2007. WNYC’s Lisa Chow reports.

REPORTER: The trial has lasted more than three weeks. The prosecution has tried to show that Cioffi and Tannin lied repeatedly to investors, touting their funds even though they knew things were headed south.

The defense in their closing arguments said the government isn’t giving the whole story, that it consistently took lines from emails out of context, and the government is using a “gotcha” tactic that’s just plain wrong.

Matt Tannin’s lawyer broke down in tears at the end of her closing statement, pleading with jurors to send Tannin home to his family.

The jury will begin deliberating on Monday. For WNYC, I’m Lisa Chow.