The 48-year-old Carton, who is a New Rochelle native, has been charged with wire fraud, securities fraud and conspiracy for his role in the scheme, which was allegedly aimed with an eye toward clearing gambling debt.
Carton, who hosted the “Boomer and Carton” morning show for a decade alongside former NFL quarterback Boomer Esiason, is scheduled to be arraigned in Manhattan federal court on Wednesday, where he will reportedly plead “not guilty.”
“Craig will fight these false charges with every ounce of his being, but how does he ever recover his good name,” lawyer Robert Gottlieb said in a statement following the indictment. “He has been maligned unfairly, but is confident that the truth will prevail and justice served once all the facts come out.”
According to authorities, Carton and co-defendant Michael Wright allegedly ripped off investors of as much as $4.6 million in the Ponzi scheme. The scam was put in place in order to pay off Carton's gambling debts, according to the the New York Daily News, which reported that court papers allege Carton ran up millions of dollars in losses with two casinos, plus a debt of $825,000 to an unidentified individual.
Carton was arrested in September and subsequently was forced to resign from his position with WFAN. He was released from custody after posting $500,000 bail. If found guilty of the charges, he faces up to 45 years in prison and may have to make restitution.
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