Comment Re: I do not understand why this is a story (Score 2) 740
If the person caught doing this wants to claim he did NOT have insider information, he'll have to explain how he managed to obtain the information prior to the information actually being released, regardless of when he executed the trade.
In this country, the burden of proof is on the prosecution, not the defendant. In this situation, the trader could easily say that they prepared the trade in advance based on circumstantial evidence that convinced them to make the bet. The SEC would need to compile other information documenting the insider access. The timing of the trades is of little consequence without a supporting collection of evidence.