WFAN's Craig Carton Arrested In $5.6 Million Concert Ticket Ponzi Scheme

WFAN Sports radio host, Craig Carton, has been arrested for his role in a fraudulent multi-million-dollar ticket-reselling scheme. Carton, the co-host of the popular morning radio show "Boomer and Carton," was reportedly arrested by the FBI this morning at his Manhattan home.

Federal prosecutors in Manhattan alleged that Carton and another defendant ran a Ponzi scheme in which they solicited investments in enterprises that they said would buy and sell concert tickets, but the money was instead used to pay personal debts, including Carton's enormous gambling debts, and earlier investors.

According to the press release, the 48-year old host and co-defendant, Michael Wright, were charged with securities fraud, wire fraud, and conspiracy to commit those offenses.

According to the Complaint unsealed today Manhattan federal court today, 

"In the fall of 2016, CARTON, WRIGHT, and CC-1 exchanged emails and text messages regarding their existing debts. On September 5, 2016, for example, WRIGHT emailed CARTON and CC-1, “for the sake of our conversation tomorrow,” and outlined “the debt past due and due next week.” WRIGHT listed several apparent creditors, to whom he, CC-1, and/or CARTON were personally indebted for over a million dollars. WRIGHT listed eight possible options for repaying the debt, including “Run to Costa Rica, change name, and start life all over again – may not be an option.”

CARTON responded to WRIGHT and CC-1, stating “don’t forget I have $1m coming tomorrow from ticket investor[.] will need to be discussed how to handle.” On September 7, 2016, CARTON emailed WRIGHT and CC-1, referenced a potential investor (“Investor-1”) in an upcoming holiday concert tour, and suggested “borrow[ing] against projected profits” on that investment."

You can read the full press release right here.

The conspiracy count carries a maximum sentence of five years in prison and a maximum fine of $250,000, or twice the gross gain or loss from the offense. The securities fraud count carries a maximum sentence of 20 years in prison and a maximum fine of $5 million, or twice the gross gain or loss from the offense. The wire fraud count also carries a maximum sentence of 20 years in prison and a maximum fine of $250,000 or twice the gross gain or loss from the offense.

Acting Manhattan U.S. Attorney Joon H. Kim said:

“As alleged, Craig Carton and Michael Wright deceived investors and raised millions of dollars through misrepresentation and outright lies. Their schemes were allegedly propped up by phony contracts with two companies to purchase blocks of concert tickets, when in fact, Carton and Wright had no deals to purchase any tickets at all. As alleged, behind all the talk, the Wright and Carson show was just a sham, designed to fleece investors out of millions ultimately to be spent on payments to casinos and to pay off other personal debt.”

Carton's co-host, retired NFL quarterback Boomer Esiason, found out the news about his partner's arrest while on the air this morning. 

Check out additional details regarding Carton's arrest in the tweet below.