It’s been a little over a year since then-WFAN host Craig Carton was arrested by the FBI on fraud charges relating to a ticket-buying scheme he’d created in order to pay off debts related to gambling and other ventures.
Today, the jury in Carton’s trial returned a guilty verdict.
Breaking: Ex-WFAN host Craig Carton guilty of defrauding investors to pay gambling debts
— Pete Brush (@PeteBrush) November 7, 2018
More from Newsday:
According to evidence at trial, Carton had used his connections for years to buy and re-sell small blocks of tickets, and in 2016 began working with two alleged co-conspirators – Michael Wright, who has pleaded guilty, and Joseph Meli, who is now in prison for a separate Ponzi scheme – to expand the model.
His investors included Brigade Capital, a hedge fund that agreed to put in up to $10 million, and invested $4.6 million. A Brigade official testified the money was only for tickets, and said Carton claimed he had deals to buy large blocks of tickets with a promoter and an arena operator.
But two executives from Brooklyn Sports and Entertainment, the operator of Nassau Coliseum and Barclays Center, testified emails Carton gave Brigade had been altered or invented, and a purported agreement with them to buy $2 million in tickets for Barbra Streisand and Metallicaconcerts was fabricated.
CEO Brett Yormark and former chief of staff Fred Mangione said that while Carton pestered them relentlessly and they allowed it because he was a major voice on WFAN, they never agreed to the type of deal he claimed he had to Brigade.
Carton’s sentencing hearing was set for February 27th, 2019, and as you’d expect he’ll be appealing the verdict.
Carton says he is "disappointed" but respects verdict before departing. His lawyers vow appeal pic.twitter.com/DK935qW4X5
— Pete Brush (@PeteBrush) November 7, 2018
Carton co-hosted WFAN’s morning show alongside Boomer Esiason at the time of his arrest, and had spent nearly thirty years in sports radio:
Carton, 48, hosts WFAN’s morning show, “Boomer and Carton,” with former NFL quarterback and current CBS analyst Boomer Esiason. The two have been radio partners since 2007. Carton has been in radio since 1991, beginning at WGR in Buffalo. He also worked in Cleveland, Philadelphia and Denver before moving to New York in 2001. He eventually landed at WFAN, where he and Esiason took over the morning slot previously held by Don Imus.
Carton was replaced by Gregg Gianotti last fall. Carton also still faces a civil investigation.
[Newsday]
About Jay Rigdon
Jay is a columnist at Awful Announcing. He is not a strong swimmer. He is probably talking to a dog in a silly voice at this very moment.