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Radio host arrested as part of alleged Ponzi scheme

Due to the number of high-profile cases in which people have been arrested and convicted for taking part in them, the phrase Ponzi scheme is well-known to people in Indianapolis and across the U.S. There are numerous ways of facing allegations of taking part in these white collar crimes and those who are confronted with being part of a Ponzi scheme should be aware of the importance of formulating a strong defense from the start.

Famous people are frequently alleged to have been involved in these activities. This was evident with a recent arrest in which a prominent radio host in New York was arrested for stealing millions of dollars as part of the Ponzi scheme. The host, Craig Carton, is part of the "Boomer and Carton" radio program at WFAN with former NFL quarterback Boomer Esiason. Mr. Esiason is not part of the allegations. Mr. Carton was placed under arrest after an investigation is said to have found that a business he was running in which concert tickets were bought and sold was fraudulent. Mr. Carton is said to have accrued substantial debts through gambling losses. The charges he faces include securities fraud, wire fraud and conspiracy.

With white collar crime charges, it is essential to craft a defense as soon as possible. In many cases, the evidence points in many different directions and numerous people are caught up in the charges. A conviction can result in not just jail time and hefty fines, but also damage to a person's reputation and the inability to get jobs and move on with his or her life. The evidence might be questionable. The person who was arrested could have gotten caught up in a situation and not be wholly at fault. Regardless, having a strong legal defense is the most important call to make.

In this case, a radio host found his name splashed across the airwaves in a different way than what he is accustomed to when he was arrested and charged with taking part in a Ponzi scheme. Although the charges are serious, it does not necessarily mean he is guilty. Those who are dealing with similar charges should be aware of their rights and contact an attorney immediately.

Source: Bloomberg.com, "WFAN's Carton Charged in Ticket Scheme to Pay Gambling Debts," Bob Van Voris, Sept. 6, 2017

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