Former WFAN host Craig Carton has been screaming from the rooftops that he’s innocent of defrauding investors in an elaborate ticket-buying scheme where he’s alleged to use investor money to pay off gambling debts. Carton’s co-defendant Michael Wright is pleading guilty and is now facing up to 20 years in prison.
Wright admitted he withdrew $550,000 in December 2016 from a ticket-selling business account at Carton’s instruction to pay Carton’s gambling debts. Wright agreed not to challenge any sentence up to two years and three months in prison.
Wright is pleading to wire fraud. He said in 2016 Carton instructed him to divert $550,000 Carton had raised from investor Brigade Capital Management to repay his personal debts. “I was aware that there was a high probability that Craig Carton had represented to Brigade that the funds it sent were to be used exclusively for the purpose of purchasing concert tickets, and I consciously avoided confirming that fact,” Wright told U.S. Magistrate Stewart Aaron.
Carton is set to go to trial next month