Boomer & Carton

Patriot_Reign

Member
SoSH Member
Apr 21, 2011
340
The story seems so strange, like what did he think the end game would be? People giving them millions of dollars and then never receiving anything in return, like that would just go unnoticed?
 

Byrdbrain

Well-Known Member
Gold Supporter
SoSH Member
Jul 18, 2005
8,288
He may have figured going to Federal prison was a better option than what would have happened to him if he didn't pay off whoever he owed.
Other than that it doesn't make any sense at all, eventually it was going to come crashing down on him.
 

nattysez

Member
SoSH Member
Sep 30, 2010
3,558
The story seems so strange, like what did he think the end game would be? People giving them millions of dollars and then never receiving anything in return, like that would just go unnoticed?
He was trying to set up a Ponzi scheme. But he's an idiot.
 

edmunddantes

Member
SoSH Member
Jul 28, 2015
4,737
Cali
The story seems so strange, like what did he think the end game would be? People giving them millions of dollars and then never receiving anything in return, like that would just go unnoticed?
He just needed to keep the money going until he hit the inevitable hit streak. Remember he's a gambler. He always thought he'd get it back.
 

Vinho Tinto

Member
SoSH Member
Dec 9, 2003
5,537
Portland, ME
The hedge fund allegedly defrauded of $4.6 million by WFAN morning-show host Craig Carton and a co-conspirator is New York-based Brigade Capital Management, SI has learned. The firm’s general counsel, Aaron Daniels, declined to comment.
Small world. The company I used to work for has Brigade as a client. I worked on their account for about 4 years. In the Deadspin article, Carton described them as buttoned up and I would agree. My impression was that they had strong operational controls and due dillegence. That they would get duped by a sports radio idiot is shocking to me. The 4 million lost is nothing compared to redemption requests they will get.
 

bankshot1

Member
SoSH Member
Feb 12, 2003
15,752
where I was last at
I just tuned in to the last 1/2 hour of Boomer and Phil.

And it Phil was fine.BUT

Lets call it serendiptious that Carton got busted when he did, (except for him) because Phil can talk football with Boomer, but I suspect his portfolio is not very deep or diversified.

I suspect some exec/producer at WFAN has been calling for a line-up of back-ups for the last 24 hours.
 

Byrdbrain

Well-Known Member
Gold Supporter
SoSH Member
Jul 18, 2005
8,288
And bookies don't have contacts in prison?
The theory was that the bookies have now been paid off with the investors money and he "only" owes his investors who I assume are softer types.
I don't think it worked out that way and in the end he probably owed the investors and the bookies but it may have been the original idea.
 

kenneycb

Hates Goose Island Beer; Loves Backdoor Play
SoSH Member
Dec 2, 2006
12,520
Tuukka's refugee camp
The theory was that the bookies have now been paid off with the investors money and he "only" owes his investors who I assume are softer types.
I don't think it worked out that way and in the end he probably owed the investors and the bookies but it may have been the original idea.
That one makes sense as well as the theory that he was using the money to let it ride and win some back. That way there's an actual end game instead of just shuffling money around from one source to another.
 

Domer

Well-Known Member
Bronze Supporter
SoSH Member
Apr 21, 2010
3,411
02148
The SEC complaint adds some more color.

WRIGHT listed eight possible options for re-paying the debt, including "Run to Costa Rica, change name, and start life all over again - may not be an option."

From the charging document, it sounds like Carton and Wright thought they could make legitimate profits, but they overstated what they had access to.
 

24JoshuaPoint

Grand Theft Duvet
SoSH Member
Nov 4, 2004
4,302
Cell Block C
That one makes sense as well as the theory that he was using the money to let it ride and win some back. That way there's an actual end game instead of just shuffling money around from one source to another.
It does make more sense. I still had trouble with the whole scheme. So he owes $2 and gets $4 from investors, half of which he bets on the Nets. That theory also still carries the gamblers mentality too - i can make it back with one nice run before the investors figure out their investment isn't gaining anything. And if they did he could refund them 100% of their investment (if the gambling worked out) and just say ooops sorry. And him and his family are safe.

As others mention the burden of weight on his back this must have been is unfathomable. I get upset over losing a Big Y gold coin in a pair of pants or under a dresser or between the seats in the car. That shit is worth a free slice of pizza.
 

uncannymanny

Well-Known Member
Gold Supporter
SoSH Member
Jan 12, 2007
6,027
Boston --> NYC --> LA --> NYC
I miss Boomer and Carton as someone who listened pretty much daily on my commute. He and Boomer played so well off of each other, and by himself Boomer is just a boring, hockey-obsessed, ex-jock dimwit (though on the scale of sports journalism...). I similarly have no interest in hearing Carton on his own.
 

Vinho Tinto

Member
SoSH Member
Dec 9, 2003
5,537
Portland, ME
Tuned in this morning: Greg Giannotti is in the cohost chair and the logo on the front of desk now says “Boomer and Gio.” This was a good pairing, in my opinion.
A good friend listens to Boomer every morning and he’s been thrilled with the hiring of Giannotti. He also liked Jerry Recco. Strange to hear all of these prior sports flash and producers become on air talent.
 

joe dokes

Member
SoSH Member
Jul 18, 2005
12,650
What's he looking at? House arrest?
Depends on the size of the fraud, how many victims, etc.
It will not be anything close to 45 years. Actual sentencing doesn't just add up the maximum sentences of all the charged crimes.
Probably closer to 5-10.
 

Vinho Tinto

Member
SoSH Member
Dec 9, 2003
5,537
Portland, ME
What a downfall. He had one of the best radio jobs in America and is now awaiting sentencing. I saw the government is seeking 7 years via a court reporter on Twitter.
 

Patriot_Reign

Member
SoSH Member
Apr 21, 2011
340
Seems like a pretty light sentence all things considered prison wise.
Although given his impending bankruptcy and loss of wife/ family at age 50 his life is fucked.
 

Ale Xander

Member
SoSH Member
Oct 31, 2013
21,384
Why isn't he going to prison right away? Why wait until July? Just gives him time to hurt himself or others.
 

richgedman'sghost

Well-Known Member
Lifetime Member
SoSH Member
May 13, 2006
1,317
ct
Guess he needs time to get his affairs in order. I do not think he is a threat to hurt others physically if that's what you mean. Carton is also undergoing theraphy at this time.
 

E5 Yaz

Transcends message boarding
Lifetime Member
SoSH Member
Apr 25, 2002
59,300
Oregon
from Peter King's colum:


“Colleen from New York. First time, long time.”

—Colleen McMahon, the federal judge who sentenced popular New York sports-talk host Craig Carton to three-and-a-half years in prison on Friday, beginning her sentencing decision with a classic talk-show refrain in federal court.
 

Dehere

Member
SoSH Member
Apr 25, 2010
3,115
from Peter King's colum:


“Colleen from New York. First time, long time.”

—Colleen McMahon, the federal judge who sentenced popular New York sports-talk host Craig Carton to three-and-a-half years in prison on Friday, beginning her sentencing decision with a classic talk-show refrain in federal court.
Am I overreacting or is it shockingly unprofessional for a federal judge to taunt a defendant before taking his freedom away? And then King relays it like it’s just adorably clever. Not to say Carton doesn’t deserve the sentence itself.
 

jon abbey

Shanghai Warrior
Dope
SoSH Member
Jul 15, 2005
41,595
Am I overreacting or is it shockingly unprofessional for a federal judge to taunt a defendant before taking his freedom away? And then King relays it like it’s just adorably clever. Not to say Carton doesn’t deserve the sentence itself.
She was being cute more than taunting, I read elsewhere she said she was a fan who listened to him every day. Not sure why she didn’t recuse herself initially...
 

dcmissle

Deflatigator
Lifetime Member
SoSH Member
Aug 4, 2005
27,295
Am I overreacting or is it shockingly unprofessional for a federal judge to taunt a defendant before taking his freedom away? And then King relays it like it’s just adorably clever. Not to say Carton doesn’t deserve the sentence itself.
It is stunningly unprofessional. I am all for poetic license in written judicial opinions, but this sort of decision is no place for that.