WFAN host Craig Carton arrested on federal charges

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You may have seen the name Craig Carton trending in a lot of places and wondered what's up with him.

CBS Radio responded to the news on Wednesday morning: "At this point we are aware of the situation and are cooperating with authorities".

Information on an attorney for Wright wasn't immediately available. Federal prosecutors say he's also a Ponzi schemer.

More information is expected to be released by the U.S. District Court Southern District of NY later on Wednesday.

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Carton used some of the money he illegally obtained to cover gambling debts, officials said. The conspiracy count carries a maximum sentence of five years in prison and a maximum fine of $250,000, while the securities fraud count carries a maximum sentence of 20 years in prison and a maximum fine of $5 million.

"In reality, no such agreements with the concert promoter or venue existed, and the signatures for the concert promoter or venue were forged", the SEC said. In an email exchange released by the court, an accomplice suggested Carton could flee to Costa Rica or change his identity and start a new life to escape his debt, Bloomberg reports.

The commission accuses Carton of teaming up with New York-based businessman Joseph Meli to mislead customers about having "millions of dollars' worth of concert tickets" by major pop stars like Katy Perry, Justin Bieber, Roger Waters, Metallica and Barbra Streisand. According to the SEC's complaint, investors were falsely promised high returns from the price markups in ticket resales. "When (one investor) made its $2 million investment, Carton misappropriated the money by lying". He turned in his passport and his travel will be restrited to eastern NY and New Jersey.

Carton's show, "Boomer and Carton in the Morning", which he co-hosts with former National Football League quarterback Boomer Esiason, airs from 6-10 a.m. on WFAN and is aired on television on CBS Sports Network. Prior to his work in NY, he worked on radio shows in Cleveland, Philadelphia and Denver as well as Buffalo, where he got his start in the industry in 1991. He founded TicTocStop, a charity dedicated to children with Tourette syndrome, which he was diagnosed with in his teens. Carton and two of his children have the condition.