Former WFAN host and sports radio star Craig Carton submitted a Chapter 7 bankruptcy filing according to a report by Jim Walsh of South Jersey’s Cherry Hill Courier-Post.
In June, Carton was released from prison just 12 months into his three-and-a-half-year sentence for scamming investors in his ticket resale business out of a reported $5.6 million. As part of his sentence, Carton was ordered to pay the victims $4.8 million in restitution.
According to the bankruptcy filing, Carton claims assets of around $1 million and liabilities of $9.4 million which includes the restitution payments. The Courier-Post adds casino operators still seek more than $1.5 million in paybacks from Carton, who racked up gambling debts and illegally sought to use money from his investors to fund betting habits.
The filing acknowledges $4,300 in monthly income for Carton, which is received from Street Smart Video, the company producing an upcoming documentary about his life titled Wildcard: The Downfall of a Radio Loudmouth. The film which will be featured on HBO, was recently given a premiere date of Oct. 7.
The filing also notes the “debtor is hopeful of finding a job in his field as a radio host.” Since his release from prison in June, Carton has been linked to sports radio and more specifically a possible return to Entercom’s WFAN. Carton reported to a halfway house after being released from jail, and according to The Courier-Post he was moved to house arrest on Aug. 12.
The house arrest is expected to run through June 2021, which will mark a full-year after his 12-months in prison came to a close. But it’s still very possible we’ll hear Carton behind a mic before next June, typically a subject under house arrest is allowed to go to work.
Even before Carton was released from prison, his friend and former producer Chris Oliviero, who is now the Entercom New York market manager, was open about WFAN possibly reuniting with its former morning star. While they don’t have a current opening, their sports radio competition 98.7 ESPN has closed the ratings gap, leading to speculation that WFAN would be willing to make room in their lineup for an attention grabbing lightning rod like Carton.
Brandon Contes is a former reporter for BSM, now working for Awful Announcing. You can find him on Twitter @BrandonContes or reach him by email at Brandon.Contes@gmail.com.
