WFAN morning show co-host Craig Carton was arrested early Wednesday for duping investors out of $5.6 million to cover his staggering gambling debts, authorities said.
The motor-mouthed Carton turned to crime after running up millions of dollars in losses with two casinos, plus a debt of $825,000 to an unidentified individual, court papers charged.
Carton and co-defendant Michael Wright were both charged with securities fraud, wire fraud and conspiracy. The two could face a maximum of 45 years in prison and fines running into millions of dollars.
Both were ordered released on $500,000 personal recognizance bond after an afternoon court appearance. The typically boisterous Carton, a scruffy stubble on his face, stood silent and stoic during his appearance.
