The “Carton and Wright show” was a trap for big money investors in the guise of a concert ticket resale outfit. The business promised investors face value tickets to shows by artists including Katy Perry, Justin Bieber, Metallica, and Barbra Streisand, while in reality the SEC charges that there were no actual agreements between Carton & Wright and any of the concert promoters or venues in question. In this manner, investors were allegedly bilked out of millions of dollars, totaling $5.6 million. And also according to the SEC, Carton’s deceptions didn’t just entail fraudulent documents and other forgeries: Carton and Wright are both facing up to 45 years in prison, plus millions in fines, if they’re convicted on all charges. If you’re wondering why a popular radio host pulling in a reported $250,000 a year would embark on such a risky swindle, court papers state that he had “accrued millions of dollars worth of gambling-related debts to casinos and other third parties,” including one debt of $825,000 to an as-yet unnamed person, plus millions in various gambling losses. Boomer & Carton listeners this morning were treated to a strange spectacle of Esiason finding out in real time that his co-host had been arrested: CBS Radio is WFAN’s parent company, and they released a statement indicating that they too were aware of the arrest, and that they were cooperating with the investigating authorities.
