Listeners of CBS Sports’ syndicated “Boomer and Carton” morning sports-talk radio program will have to settle for a solo Boomer Esiason. Craig Carton, the show’s other on-air talent, resigned amid a federal securities fraud investigation and arrest.
According to the federal indictment, Carton and an associate masterminded a multi-million dollar Ponzi scheme based on event tickets sales. Allegedly, Carton and his co-conspirator offered to buy and resell blocks of tickets to sports events. The pair would then split the profit on ticket sales with investors. Federal investigators say, however, that Carton and his partner diverted investment funds to pay other investors, and for personal expenses.
Authorities arrested Carton and his co-conspirator in New York City, where the show originates. Federal prosecutors claim that Carton began diverting investor funds to cover massive gambling debts.
Carton did spend some investor money on block ticket purchases,
but the sales didn’t always work out as planned. Reportedly, Carton purchased $850,000 in tickets for Barbra Streisand shows, only to find little secondary demand.
Carton’s on-air co-host was unaware of his legal and financial difficulties. Carton missed an on-air appearance earlier this month. Esiason initially thought Carton was ill. Later, WFAN station management informed him of Carton’s arrest, which Esiason disclosed on-air. WFAN later suspended Carton. Following his suspension, Carton resigned to devote his full attention to his legal difficulties.
Carton and his co-conspirator face charges of securities fraud, wire fraud and conspiracy. If convicted, they face as much as 45 years in prison.
Los Angeles securities fraud attorney
Being on the opposite side of the federal government in court can be frightening. When you face securities fraud, wire fraud or conspiracy charges, you need the assistance of an experienced securities fraud attorney like Robert Helfend.
Mr. Helfend has more than 30 years of experience in federal criminal court defense, and is ready to fight for your rights and freedoms. Don’t rely on an inexperienced attorney, and don’t assume that your best option is to take a plea deal.
Contact Robert Helfend or call toll-free at (800) 834-6434, (310) 456-3317, (818) 591-2809 or (805) 273-5611 for an immediate consultation on your Los Angeles County securities fraud case.
Photo Credit: Andrew Gardecki, via Flickr.com