'Boomer and Carton' co-host Craig Carton arrested

NEW YORK (FOX5NY) - FBI agents arrested Craig Carton, the co-host of the popular sports radio talk show "Boomer and Carton," on Wednesday morning for allegedly running a Ponzi scheme.

Carton was arrested at his home in the Tribeca section of Manhattan shortly after 4 a.m. on multiple charges. Federal authorities say he operated a scam that raised over $5 million, partly to repay millions of dollars in gambling debts. He faces conspiracy, securities, and wire fraud charges.

Carton and co-defendant Michael Wright, 41, of New Jersey, are accused of setting up a plan to resell blocks of low-cost concert tickets. Sources told Fox 5 that they claimed to have contracts to purchase the tickets with two different companies but had no such sources.

They are alleged to have made false claims about having access to the tickets to an investor and a hedge fund. Citing sources, Fox 5 reported that the pair received around $5.6 million from the investors.

Carton and Wright appeared in federal court Wednesday afternoon. A judge released them on $500,000 bonds.

In Carton's absence, former Jets quarterback Boomer Esiason co-hosted the show Wednesday morning with Jerry Recco, the show's update anchor. Esiason said he initially thought Carton had called in sick before learning of his arrest.

Carton and Esiason have hosted the WFAN morning show together since 2007. The show is simulcast nationally on the CBS Sports Network. Prior to being at WFAN, Carton was an afternoon host on New Jersey 101.5 FM.