Craig Carton arrested in New York
Craig Carton was arrested by FBI Wednesday morning. The WFAN sports radio host is being accused of defrauding investors out of millions of dollars with a phony ticket resale business.
According to a report from NBC News, “Federal authorities say Carton defrauded people out of $5.6 million, money he needed because he had huge gambling debts. Those debts include millions of dollars in losses at two casinos and $825,000 he owes to an unidentified individual.”
Carton, 48, and business partner Joseph Meli are accused of running a Ponzi scheme in which they used funds from new investors to repay earlier investors and other debts, according to the complaint filed by the US Securities and Exchange Commission.
Carton hosted MMA Uncensored LIVE on Spike TV in 2012. The show was eventually cancelled. Carton was invited into the cage where he made an appearance during the Bellator NYC event at Madison Square Garden in June.