In the world of New York sports radio, Craig Carton is known as the quick-witted, unpredictable, top-rated co-host of a morning drive-time show that moves quickly from football to family life to sports betting. Federal prosecutors say he’s also a Ponzi schemer.

Carton was arrested Wednesday and charged with ripping off investors of millions of dollars in an alleged scam that involved buying and and selling tickets to concerts by Adele, Katy Perry, Justin Bieber and Barbra Streisand. U.S. regulators said he used the money to pay off gambling debts.

The arrest is the latest in a widening probe of alleged fraud in the ticket-resale industry. Carton, who has hosted the WFAN radio show with former NFL quarterback Boomer Esiason since 2007, is the biggest name implicated to date. Esiason isn’t accused of wrongdoing.

Carton, 48, was arrested at his home in Manhattan by FBI agents , a spokeswoman for the agency said. He and a co-defendant, Michael Wright, 41, of Upper Saddle River, New Jersey, are charged with conspiracy and securities fraud. Both men are expected to appear in Manhattan federal court Wednesday afternoon.

Carton’s arrest comes as entertainers and lawmakers focus on the ticket-reselling industry, a lightly regulated world where consumers are often scammed or misled. Last year, New York Attorney General Eric Schneiderman finished a three-year probe into concert and sports ticket resellers, promising to better protect consumers.

Artists, including Bruce Springsteen, have begun using more rigorous verification methods to ensure that fans, not brokers, are able to purchase access to their shows, while many sports teams have begun limiting access that brokers have to their tickets.

Ponzi Claim

On Wednesday, Carton was also sued for fraud by the Securities and Exchange Commission, which said that Carton and another man, Joseph Meli, raised more than $5 million from investors in a Ponzi scheme claiming access to tickets for resale. Meli wasn’t named in the criminal complaint filed Wednesday but is charged in a separate criminal case.

Carton racked up millions of dollars of gambling-related debts, according to the SEC. As those debts mounted, he considered a range of options. “Run to Costa Rica, change name and start life over gain -- may not be an option," Wright told Carton in an email, included in the criminal complaint.

Instead, he used investors’ money to pay off the debts, the SEC said.

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