'Boomer & Carton' Radio Host Arrested on Fraud Charges

Craig Carton

A popular radio personality was arrested at his home Wednesday on investment fraud-related charges, according to the Federal Bureau of Investigation.

Carton, 48, was arrested early Wednesday along with 41-year-old alleged co-conspirator Michael Wright, according to a joint statement from the Federal Bureau of Investigation and the Manhattan U.S. Attorney.

More information is expected to be released by the U.S. District Court Southern District of NY later on Wednesday.

Carton, 48, hosts WFAN's morning show, "Boomer and Carton", with former National Football League quarterback and current CBS analyst Boomer Esiason.

Carton, who titled his memoir "Loudmouth", and Esiason replaced Don Imus' morning show on WFAN on September 4, 2007 after Imus lost his job for making a comment viewed as racist and sexist. There's nothing else I can say. "I thought he called in sick this morning, but unfortunately my partner was arrested", Esiason told listeners. The day after that, Carton and the hedge fund entered an agreement under which the fund would give Carton up to $10 million to be used to purchase the tickets.

Craig Carton
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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.

CBS owns WFAN and says it is cooperating with authorities.

In January 2005, Codey threatened to "take out" Carton after Carton made dismissive comments about postpartum depression, an ailment that afflicted the then-governor's wife Mary Jo Codey. The business, sources claimed, never existed, and investors were defrauded for more than a million dollars.

The securities and wire fraud counts each carry a maximum sentence of 20 years in prison and fines ranging from $250,000 to $5 million.

And, in case you were wondering: Yes-there is a connection between Craig Carton's event ticket Ponzi scheme and the Hamilton Ponzi scheme of earlier this year. According to court filings, Carton had racked up millions in losses at two casinos and owed $825,000 to an unidentified person. Prior to his work in NY, he worked on radio shows in Cleveland, Philadelphia and Denver as well as Buffalo, where he got his start in the industry in 1991.

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