..

Feds: WFAN host Ran Ticket Ponzi Scheme to Pay Gambling Debts

Written by:
Guest
Published on:
Sep/06/2017

A popular radio host is accused of running a ponzi scheme involving ticket sale fraud all in an effort to help pay off gambling debts. 

WFAN host Craig Carton, 48, and Michael Wright, 41, of Upper Saddle River, are charged with securities fraud, wire fraud, and conspiracy, the U.S. Attorney's Office for New York's Southern District said in a statement.

Carton used some of the money he illegally obtained to cover gambling debts, officials said.

"Behind all the talk, the Wright and Carton show was just a sham, designed to fleece investors out of millions ultimately to be spent on payments to casinos and to pay off other personal debt," Manhattan U.S. Attorney Joon H. Kim said. 

The two men appeared in court on Wednesday. 

This story is developing.

- Jagajeet Chiba, Gambling911.com

Gambling News

"Tony Meatballs" and Others Indicted for Sports Betting, Heroin Distribution, More

"Tony Meatballs" and Others Indicted for Sports Betting, Heroin Distribution, More

More than a dozen alleged mobsters have been charged as part of a sweeping federal indictment unsealed on Monday including one 72-year-old named Anthony “Tony Meatballs’’ Gifoli.

Atlantic City Casino Earnings Fall 37% Amid Pandemic Limits

Atlantic City Casino Earnings Fall 37% Amid Pandemic Limits

Atlantic City’s casinos saw their collective profits fall by more than 37% in the third quarter of this year as they reopened with capacity limits and costly measures designed to stem the coronavirus pandemic.

The Rise of Virtual Esports Betting in 2020

The Rise of Virtual Esports Betting in 2020

At the beginning of 2020, the sports betting industry found itself in a position they’ve never experienced before. Out of a sudden, all sports events were cancelled, without any predicatble future insight.

GLI Insights on How to Navigate Future of Gaming at Betting on Sports America

Gaming Laboratories International (GLI®) will host a roundtable at next month’s Betting on Sports America - Digital that will focus on the industry’s evolving product and service offerings. 

Legendary Sports Bettor Lem Banker Dies at 93

Legendary Sports Bettor Lem Banker Dies at 93

The legendary sports bettor Lem Banker has passed away in his Las Vegas home at the age of 93.  The multi-millionaire made a living betting sports.

Syndicate