According to *The Wall Street Journal*, U.S. federal prosecutors on Thursday charged Chetram Balli, a long-time non-attorney staff member at the law firm Cravath, Swaine & Moore, with trading securities using confidential information on clients' material transactions. The report stated that Balli was arrested Thursday morning in Queens, New York, and is expected to make an initial appearance in federal court in Brooklyn that afternoon. Prosecutors alleged that between April 2025 and October 2026, he made approximately $70,000 in profits across five client transactions, including Paramount's acquisition of Warner Bros. Discovery. These are allegations by the prosecution and do not constitute a conviction.