September 14, 2017 06:59 GMT by dailymail.co.uk

Craig Carton quits 'Boomer and Carton' show after arrest

Craig Carton quits 'Boomer and Carton' show after arrest

New York sports radio personality Craig Carton announced on Wednesday that he has quit his show on WFAN following his arrest on fraud charges.

New York sports radio personality Craig Carton announced on Wednesday that he has quit his show on WFAN following his arrest on fraud charges.

Carton co-hosted 'Boomer and Carton' with former NFL quarterback Boomer Esiason. 

He announced Wednesday he had submitted his resignation and it was accepted.

Federal authorities charged Carton with fraud last week, saying he used a Ponzi scheme to fool investors into giving him millions of dollars to pay off gambling debts to casinos and elsewhere.

On Tuesday he had vowed to fight the charges, saying his fans would see he was not guilty and he'd be back 'stronger than ever.'

New York sports radio personality Craig Carton announced on Wednesday that he has quit his show on WFAN following his arrest on fraud charges. Carton is seen above leaving Manhattan Federal Court last Wednesday after his arraignment

New York sports radio personality Craig Carton announced on Wednesday that he has quit his show on WFAN following his arrest on fraud charges. Carton is seen above leaving Manhattan Federal Court last Wednesday after his arraignment

Federal authorities charged Carton with fraud last week, saying he used a Ponzi scheme to fool investors into giving him millions of dollars to pay off gambling debts to casinos and elsewhere
Federal authorities charged Carton with fraud last week, saying he used a Ponzi scheme to fool investors into giving him millions of dollars to pay off gambling debts to casinos and elsewhere

Federal authorities charged Carton with fraud last week, saying he used a Ponzi scheme to fool investors into giving him millions of dollars to pay off gambling debts to casinos and elsewhere

On Wednesday he said the 'unfounded legal issues' would be a distraction to everyone at WFAN and the show he helped build.

'For 10 years I've had the great privilege of showing up to work every day at my dream job,' Carton said in a statement. 

'I have nothing but love and respect for my co-host, the show and the entire CBS Radio family and I've always tried to represent them in the best possible light.

'Unfortunately, the unfounded legal issues currently plaguing me will only be a distraction to everyone at WFAN and the show I helped build. 

'With that in mind, I have submitted my resignation to the station and they accepted.

'I am sad to see this chapter of my life close but know that it will allow me to focus on my family, my well-being and clearing my name, while giving the show the best opportunity to succeed without further disruption.' 

CBS owns WFAN and says it's cooperating with authorities. 

It says it's searching for Carton's replacement.

On Tuesday he had vowed to fight the charges, saying his fans would see he was not guilty and he'd be back 'stronger than ever'

On Tuesday he had vowed to fight the charges, saying his fans would see he was not guilty and he'd be back 'stronger than ever'

Carton was downcast as he appeared at court in Manhattan last week to face fraud charges that could land him in federal prison for up to 45 years.

The 48-year-old was arrested at his Tribeca home early last Wednesday morning for his role in a suspected ticket scam under which he is alleged to have duped investors out of $5.6million in order to pay off personal gambling debt. 

Court documents claim Carton promised to bulk buy tickets to an Adele concert among others, promising to later sell them off at marked-up price for a profit. 

His co-defendants include Joseph Meli who was previously charged for operating a similar scheme in which he lured investors by promising to buy coveted tickets to the Broadway show Hamilton.

The pair, along with co-accused Matthew Wright, are accused of using the cash raised in the second scheme to pay off Meli's original investors and spending the rest of it to clear Carton's gambling debt which, at the end of 2016, totaled more than $1million.  

Together they allegedly used investment money that was secured by Carton from an individual investor and a New York based hedge fund to pay off personal debts.

According to the criminal complaint against them, Carton, who earns $250,000 from his WFAN radio job, wired more than $1million to casinos he was indebted to after receiving the investment money. 

The men gave hundreds of thousands of dollars more to other individuals they had borrowed money from and spent the rest of the cash paying back investors in an earlier ticket scheme, authorities say.

Carlton is accused of deceiving the unnamed hedge fund on a number of occasions in order to secure its cash. 

Carton co-hosted 'Boomer and Carton' with former NFL quarterback Boomer Esiason (left). The two men are seen in this October 2016 file photo

Carton co-hosted 'Boomer and Carton' with former NFL quarterback Boomer Esiason (left). The two men are seen in this October 2016 file photo

He allegedly forged the signature of concert company bosses and even fabricated emails which served as proof of his arrangement with them, FBI agents said. 

When the investors asked to speak with the concert company bosses in order to verify Carton's deal with them, he told them the relevant people were 'in Orlando' and that he could vouch for the arrangement, it is alleged.

In reality, none of the concert promotion companies had ever set up deals with the radio hosts or his associates, authorities said. 

In addition to the criminal case against him, Carton is being sued in civil court by the Securities and Exchange Commission. 

Its investigators said he accrued 'millions of dollars' of debt around the same time the scheme began.

Meli is not named in the FBI criminal complaint but he is listed as a co-defendant in the SEC lawsuit.

He was previously arrested for orchestrating a similar scam but on a much larger scale in which he promised to have access to thousands of Hamilton tickets.    

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