Carton Busted In Ponzi Scheme
Craig Carton, co-host of Boomer and Carton in the Morning on CBS Radio’s WFAN/New York was arrested by the FBI at his home Wednesday morning and accused of defrauding investors of millions of dollars in bogus concert tickets in order to cover his own gambling debts, according to court papers.
The New York Post reports that Carton, 48, and the father of four, and his business partner Joseph Meli are accused of running a Ponzi scheme in which they used funds from new investors to repay earlier investors and other debts, according to the complaint filed by the U.S. Securities and Exchange Commission. Together, The Post says Carton and Meli, 43, ripped off at least $3.6 million from two investors, while on his own, Carton misappropriated another $2 million from one of the same two investors. The guys had solicited investments in ticket reselling enterprises that they claimed had bought tickets to Katy Perry, Justin Bieber, Roger Waters, Metallica, Barbra Streisand and Adele concerts and resold them at huge profits.
In addition to the SEC charges, Carton and another business associate, Michael Wright were also charged with securities and wire fraud by prosecutors in Manhattan federal court. The criminal complaint notes, “Craig Carton and Michael Wright, the defendants, and others known and unknown, willfully and knowingly did combine, conspire, confederate, and agree together and with each other to commit offenses against the United States.”
According to WPIX-TV, Carton’s co-host, former NFL quarterback Boomer Esiason got the word while he was on the air and said, “I am aware now why Craig was not here this morning. Unfortunately, he was arrested. The station is aware and cooperating with authorities. I’m taken aback and surprised just as everybody else is. I have no other information. I thought he called in sick this morning. I guess there will be more news to come from somewhere, but it’s not coming from me since I don’t have it.”
Carton began his broadcasting career in 1991 at WGR/Buffalo, NY. He has been teamed up with Esiason since 2007. In a statement, CBS Radio said, “Craig Carton has been suspended from WFAN pending our investigation.” [Photo by Al “Hughes” Dukes Photography]
