Tuesday, May 22, 2018
NYC Radio: Craig Carton Rips Ponzi Charges, Evidence
Sports radio personality Craig Carton stepped up his legal strategy this past Friday, when his attorneys filed a motion to dismiss the securities fraud count against Carton stemming from the explosive federal indictment that accuses him and co-defendant Michael Wright of orchestrating a Ponzi scheme.
"Mr. Carton never intended or defrauded anyone at any time," reads a statement to the Daily News from the law firm Gottlieb & Janey, which is representing Carton.
Carton, 49, and Wright allegedly carried out a ticket resale business and are accused of soliciting investments from a hedge fund and other individuals in order to buy concert tickets and resell them in the secondary market. Instead, the indictment claims, the two men used the money to pay off personal debts — in Carton's case, gambling debts — and to pay other individuals who had made earlier investments.
But Friday's filing argues that the government "has failed to include specific factual allegations as to how Mr. Carton possessed the requisite intent" to commit securities fraud when Carton entered into an agreement with a hedge fund in Dec. 2016 to secure financing for the purchase of concert tickets. Carton's lawyers present case law to support their argument.
Posted 4:00:00 AM