WFAN radio personality Craig Carton has resigned from his position at the station, according to a press release from his publicist.
For 10 years I've had the great privilege of showing up to work every day at my dream job. I have nothing but love and respect for my co-host, the show and the entire CBS Radio family and I've always tried to represent them in the best possible light.
Unfortunately, the unfounded legal issues currently plaguing me will only be a distraction to everyone at WFAN and the show I helped build. With that in mind, I have submitted my resignation to the station and they accepted. I am sad to see this chapter of my life close but know that it will allow me to focus on my family, my well-being and clearing my name, while giving the show the best opportunity to succeed without further disruption.
I've always felt a personal connection to our listeners and want to thank them for making me a part of their daily routine. I hope they can respect the fact that as much as I want to talk about the allegations against me I can't at this time. There will come a time when I will be able to speak directly about the case and I hope our listeners will be there.
From the bottom of my heart, I'd like to thank my family, friends, listeners and especially the executives at WFAN and CBS Radio for their continued understanding and for giving me the most amazing platform to do what I love to do the most, besides being with my family.
Carton was arrested last Wednesday due to his role in a multimillion dollar discount-ticket Ponzi scheme, reports Newsday's John Riley.
Carton was released on $500,000 bond Wednesday afternoon and is due back in court on Oct. 6, reports Clodagh McGowan of NY1.
Carton was charged in Manhattan federal court as he used his Ponzi scheme to pay off casino debts. He, along with co-defendant Michael Wright, told investors that they had arrangements with various promoters and entertainers to get discounted tickets for resale they could profit from.
However, they did not have that connection, and instead, used the money to pay off their debts with casinos and prior investors in the scheme.
"Craig Carton and Michael Wright deceived investors and raised millions of dollars through misrepresentation and outright lies," Acting Manhattan U.S. Attorney Joon Kim said. "...Behind all the talk the Wright and Carton show was just a sham designed to fleece investors."
The Securities and Exchange Commission said the scheme had begun in mid-2016 where Carton had racked up millions. He would create fake agreements for discounted tickets for shows like Justin Bieber, Katy Perry, Metallica.
Carton even had a hedge fund pay $10 million in the scheme. In its first payment of $700,000, he wired $200,000 to a casino and $500,000 to someone who loaned him money.
Carton's radio partner, ex-NFL quarterback Boomer Esiason, addressed the news during their morning show last week.
"It's been a very interesting day around here at WFAN, for sure, I'm sure there will be more news to come in the days ahead. I look forward to hearing that news, as many of you do."
Carton and Wright both face up to 45 years in prison, and are expected to appear in court later Wednesday.