A week after being being arrested on federal securities and wire fraud charges, WFAN radio personality Craig Carton announced his resignation from the station.

"Unfortunately, the unfounded legal issues currently plaguing me will only be a distraction to everyone at WFAN and the show I helped build. With that in mind, I have submitted my resignation to the station and they accepted," he said in a statement (read full text below). He added, "For 10 years I've had the great privilege of showing up to work every day at my dream job. I have nothing but love and respect for my co-host, the show and the entire CBS Radio family and I've always tried to represent them in the best possible light."

Carton's now former co-host, Boomer Esiason, addressed the news on air, telling listeners, "He's gotta get his life in order."

The U.S. Attorney's office accused Carton of orchestrating an alleged music concert ticket-reselling Ponzi scheme with two others, in an attempt to convince individuals as well as hedge funds to invest millions. Prosecutors say that Carton and Michael Wright, the COO of the company that owns the Sapphire strip clubs, concocted the plan because they had gambling debts coming due. The complaint reads, "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.'"

The Securities and Exchange Commission is also investigating, and shared the following text from Carton's alleged co-conspirator, Joseph Meli (who was arrested earlier this year for a Ponzi scheme involving Hamilton tickets):

We use [the Hedge Fund's] money to repay debts. Where do we get the money to buy tickets and further what deal do we offer the money provider for the tickets. We cannot pay [the Hedge Fund] with other people's money right away because it does not work. We need [the Hedge Fund] to buy deals with long lead times and earn money in the interim and use the earned money to replace the [Hedge Fund] funds in ticket deals on [sic] the future. This is the math we have to figure out and work it into a schedule to get down to zero.

Carton allegedly replied, "Agreed."

One of the victims in the scheme is Brigade Capital; the NY Post reported that Carton appeared to become friendly with Brigade board member Doug Pardon through Carton's Tourette's syndrome charity.

Carton, an outgoing and provocative figure, was widely criticized in 2007 for an offensive anti-immigrant listener-participation game that encouraged people to, as the Times reported, "turn in friends, neighbors and 'anyone suspicious' to immigration authorities." But that controversy was not enough to cost him his job.

Carton had not spoken publicly about the recent charges until now. Last week, his lawyer said, "The government's allegations against Craig Carton demonstrate a gross misunderstanding of what happened. Craig is a victim who was deceived, manipulated and used by individuals seeking to gather assets for their own fraudulent schemes."

The show, "Boomer & Carton in the Morning," is now being called, "Boomer in the Morning." Esiason added that all items in the WFAN/CBS Sports Network offices that had "Carton" on them had already been taken down. 'It's a sad day—it's the end of 'Boomer & Carton,'" he said. "For ten years, I sat next to somebody who I think—and I still believe this—is one of the greatest radio personalities that we'll ever see... I wish Craig and his family nothing but the best."

Craig Carton's full statement:

"For 10 years I've had the great privilege of showing up to work every day at my dream job. I have nothing but love and respect for my co-host, the show and the entire CBS Radio family and I've always tried to represent them in the best possible light.

Unfortunately, the unfounded legal issues currently plaguing me will only be a distraction to everyone at WFAN and the show I helped build. With that in mind, I have submitted my resignation to the station and they accepted. I am sad to see this chapter of my life close but know that it will allow me to focus on my family, my well-being and clearing my name, while giving the show the best opportunity to succeed without further disruption.

I've always felt a personal connection to our listeners and want to thank them for making me a part of their daily routine. I hope they can respect the fact that as much as I want to talk about the allegations against me I can't at this time. There will come a time when I will be able to speak directly about the case and I hope our listeners will be there.

From the bottom of my heart, I'd like to thank my family, friends, listeners and especially the executives at WFAN and CBS Radio for their continued understanding and for giving me the most amazing platform to do what I love to do the most, besides being with my family."
- Craig Carton