WFAN Radio Host Craig Carton Submits Resignation After ‘Ponzi Scheme’ Arrest
Craig Carton has resigned from New York City sports radio station WFAN after 10 years as co-host of the high-rated morning drive show Boomer & Carton.
Carton, who is under federal investigation, submitted his resignation earlier this evening.
The FBI arrested Carton last Wednesday morning. He faces a variety of charges, including securities fraud and wire fraud, as does a co-defendant. WFAN said it is cooperating with the authorities in the probe. He is currently out on $500,000 bail. The U.S. Securities and Exchange Commission has filed a separate civil lawsuit against Carton and another individual in connection with the same enterprise.
CBS-owned WFAN, which suspended Carton after his arrest, airs on 660 AM and 101.9 FM, and streams on the internet as well. The station reportedly paid Carton an annual salary of about $2 million.
A father of four, Carton, 48, allegedly scammed investors as a way to pay off massive gambling debts, according to the New York Times.
