NY Post: Craig Carton and partner ran 6 million dollar ticket Ponzi scheme | Bob's Blitz

NY Post: Craig Carton and partner ran 6 million dollar ticket Ponzi scheme

The NY Post has Craig Carton at the center of an almost 6 million dollar Ponzi scheme.

“Boomer and Carton” co-host Craig Carton was arrested by feds Wednesday morning on charges he ripped off millions of dollars from investors by peddling bogus concert tickets in order to cover his own gambling debts, according to court papers.

Carton, 48, and business partner Joseph Meli are accused of running a Ponzi scheme in which they used funds from new investors to repay earlier investors and other debts, according to the complaint filed by the US Securities and Exchange Commission.

Together, Carton and Meli, 43, ripped off at least $3.6 million from two investors, while on his own, Carton misappropriated another $2 million from one of the same two investors.

The two solicited investments in ticket reselling enterprises they claimed bought tickets to Katy Perry, Justin Bieber, Robert Waters, Metallica, Barbra Streisand and Adele shows and resold them at huge profits.

“Carton falsely claimed to investors that he — sometimes on his own and sometimes through Meli —had access to millions of dollars’ worth of concert tickets at face value,” the complaint said.

Carton turned to the ticket scam in the middle of 2016 as a result of accruing “millions of dollars’ worth of gambling-related debts to casinos and other third parties,” according to court papers.

In a Sept. 7, 2016, email to Meli and another associate, Carton wrote that he was “around $3 M in the whole [sic]” and that he “risked and lost $700 of investor money” — referring to a $700,000 loss — and that he owed [$825,000] ASAP” to the person. He also indicated that he owed “a total of $500 on the 12th” to two casinos, referring to a $500,000 debt, the complaint detailed.

Where's that WFAN sponsored Boomer & Carton 2017 Knockout Pool?

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