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Craig Carton Resigns After Being Charged in Multimillion Dollar Ponzi Scheme

Joseph Zucker@@JosephZuckerFeatured ColumnistSeptember 14, 2017

FILE - In this Aug. 30, 2012, file photo, Craig Carton talks during the National Football League Back to Football Run at Central Park in New York. Federal officials said the New York sports radio host is in custody and details of the charges against the host of WFAN-AM’s “Boomer and Carton” show were not immediately made public Wednesday, Sept. 6, 2017. (John Minchillo/AP Images for NFL, File)
John Minchillo/Associated Press

Craig Carton resigned from WFAN in New York City after he was arrested for allegedly being part of a Ponzi scheme totaling $5.6 million. 

ABC's Matt Stone shared a statement from Carton confirming his departure:

Matt Stone @MattStoneABC

Craig Carton has resigned from WFAN radio. His statement 👇🏻 https://t.co/4x9zZpIZbu

According to NJ Advance Media's Jeff Goldman, the scheme centered around concert tickets. Carton and two others allegedly told investors they had access to tickets that would be purchased at face value and then resold for a profit on secondary markets.

The group allegedly claimed to have agreements with arenas and a music promotion company that were never in place. Federal authorities allege Carton forged documents that purportedly corroborated the claim, per Goldman.

The New York Post's Lia Eustachewich, Priscilla DeGregory and Bruce Golding reported Carton also allegedly signed a $10 million revolving loan agreement with a hedge fund. Carton and Joseph Meli then allegedly "used an initial $2.6 million investment to pay various casinos Carton owed, help pay off the first Ponzi victim and pay off other victims of Meli's earlier scheme."

Carton began working in WFAN in September 2007, when he partnered with former NFL quarterback Boomer Esiason for the morning show Boomer and Carton.

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