Craig Carton's case to the jury as his attorney admits Craig lied to investors

Craig Carton's case closed quickly and went to the jury last night at 4:40. But not before his attorney Robert Gottlieb admitted in closing arguments that Carton lied at times.

“Craig was wrong ever to lie. He was wrong ever to misrepresent. He should be ashamed," Gottlieb said.

“Money is fungible...He was entitled to spend that money on whatever he wanted to spend it on as long as he fulfilled his obligations.”

Fungible = "of goods contracted for without an individual specimen being specified) able to replace or be replaced by another identical item; mutually interchangeable..."

“He never intended to steal anyone’s money,” said Gottlieb. “He never thought it would cause any harm.”

Newsday reported: "Gottlieb admitted Carton lied repeatedly — “he should be ashamed of himself” — but attributed it to his client’s hyper personality and “anxiety” about making his business succeed, and insisted Carton was free to do what he wanted with investors’ money as long as his intentions were pure."

Assistant U.S. Attorney Elisa Kobre responded, “He was a well-known celebrity. He abused that trust. He told lie after lie."

U.S. District Judge Colleen McMahon has ruled that using misrepresentations to deprive investors of their right to make an informed investment decision is enough to show criminal intent.

CBS' coverage continues to be quite curious.



Deliberations will resume this morning.

*Update -- Craig Carton found guilty on all counts.

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