Sports radio host Craig Carton has reportedly been arrested on charges of cheating investors of millions of dollars in a scam of its kind. Reports suggest that he ran a fake concert-ticket scam worth millions of dollars.
U.S. regulators are quoted as saying that Craig Carton has used money earned through the scam to pay off gambling debts.
His arrest is part of an expanding investigation in the ticket-resell industry. Nonetheless, till now all the people involved in the scam were little known face. Now with his arrest, a big name in broadcasting journalism has been arrested.
48-year old Craig Harris Carton, currently co-hosts the Boomer and Carton in the Morning radio program. While in his teens, he was diagnosed with Tourette syndrome. He graduated from New Rochelle High School and the S.I. Newhouse School at Syracuse University with a degree in broadcast journalism in 1991. He was also a member of the Pi chapter of Psi Upsilon fraternity during his time at Syracuse University.
Reports suggest that Carton was taken into custody by FBI sleuths at his home in Manhattan. Nonetheless, the criminal complaint wasn’t immediately available, but a related lawsuit filed by the Securities and Exchange Commission said Carton and another man, Joseph Meli, raised more than $5 million from investors in a Ponzi scheme claiming access to tickets for resale to concerts including Adele, Katy Perry, Justin Bieber and Barbra Streisand.
CBS Radio in a statement said, “We are aware of the situation and are cooperating with authorities”. Known for his acerbic wit, Carton, 48, has hosted the show with former NFL quarterback Boomer Esiason since 2007. Jerry Recco was filling in for Carton on Wednesday morning’s show.
Securities and Exchange Commission in a statement said, “Carton and Meli used new investor funds to repay earlier investors and other preexisting debts, including Carton’s debt to casinos, rather than to purchase tickets for resale as promised”.