Rimon Alkatri said on the witness stand that he believes calling the terror hotline in May 2006 was the right thing to do, the New York Post reported Tuesday.
"If I say nothing, and God forbid something happen, I never forgive myself all my life," Alkatri said.
Prosecutors said Alkatri's call to the hotline was an attempt at revenge against his business rivals, five Syrian jewelers. He told the police officer fielding his call that the jewelers were "five Arabic people that try to do something, like terrorist."
The five were subjected to numerous interrogations and searches of their homes and places of business before they were cleared of the charges.
Alkatri is scheduled to resume his testimony when the trial continues Thursday. He is currently free on $500,000 bail.