NY Sports Talk Radio Host, Craig Carton, Arrested by FBI — Charged with Gambling Inspired Securities Fraud

I never liked Craig Carton. When I used to follow fools-ball, I was a big fan of NY’s #1 talk radio station — WFAN — with one marked exception to the morning show, which was hosted by Craig Carton and Boomer Esiason.

Apparently, my instincts were correct — as the FBI charged Carton with securities fraud today, for bilking investors for millions. The details are murky and I still don’t fully understand all of the details. One thing is for certain, he had indebted himself for millions at two casinos, in addition to $825,000 to one person — perhaps someone that didn’t like to be owed money.

To remedy the situation, Carton thought it was a good idea to risk his career, family, and freedom to conduct a boneheaded Ponzi scheme by selling investors ‘tickets’ — which amounted to a staggering $5.6m.

Apparently, Carton was soliciting investors to buy blocks of tickets to his live events at a discount, enabling them to resell them at a profit. This is high tier degeneracy.

In a separate civil case unveiled on Wednesday, the Securities and Exchange Commission said Carton had racked up millions of dollars in gambling debts to casinos and others by the time he began soliciting investors in the ticket scheme, in which he told investors he had access to millions of dollars worth of tickets to concerts by Katy Perry, Justin Bieber, Adele and other performers.

Carton negotiated for $10 million in financing from an unnamed hedge fund to help purchase tickets in return for a cut of the profit from the resale of the tickets, according to the government’s complaint dated Tuesday and filed at the federal court in Manhattan. But they planned to use the financing to pay back debt instead.

The government said the fraud took place from September through December last year. The complaint details emails and text messages in which the men tried to figure out how to juggle debts with incoming investor money.

In a September email, Wright discussed with Carton and a third unnamed individual more than $1 million in debt shortly coming due: “Run to Costa Rica, change name, and start life all over again — may not be an option.”

“As you know it’s a game,” Wright told Carton in an October email, according to the government’s complaint.

The hedge fund, though unnamed by the government, was described as a “global investment management firm based in New York.”

Carton and his co-defendent, Michael Wright, were charged with securities fraud and conspiracy and now face 45 years in prison.

“Behind all the talk, the Carton and Wright show was just a sham, designed to fleece investors out of millions ultimately to be spend on payments to casinos and … other personal debt,” said U.S. Attorney Joon Kim.

Here’s Boomer Esiason telling his listeners today that his partner was arrested.

I’m getting long a Ft. Lauderdale based property insurance company — UVE — because I am praying to the Lord that Hurricane Irma will turn south and destroy Mexico instead of America.

Let us pray,

Dear Lord please do not smite the degenerates in Miami, for they do not know what they do. Instead, if I might be so bold, take your tool of natural destruction, Hurricane Irma, are wield it against the evil Mexicans — who cause our peace loving nation great pains via their ILLEGAL BORDER CROSSINGS.

Amen

Fly

To hedge that bet, I also bought PGTI — because Jeff Piotrowski said Irma is gonna knock down fucking skyscrapers — blowing out windows 30 stories up — reducing the city of Miami to a smoldering ashtray, which will take 6 months to get supplies into because all of the rubble and broken windows will be in the way.

Storm chaser offers grim warning to Florida pic.twitter.com/9SgEHdM8eO

— The_Real_Fly (@The_Real_Fly) September 6, 2017

PGTI produces hurricane proof windows, siding, and other building supplies.

I am now fucking ready.

This is a very serious happening. I do not want you to laugh at me, whatsoever, during the reading of this post.

Gold is on the verge of breaking out to the upside, this time for real.

Over the past 2 years, the cryptofags have stolen the thunder from the ‘hard money’ homos in the gold patch. I do believe we’re beginning to bear witness to a serious crisis in confidence in the blockchain, thanks to China throwing the ban hammer on the ICO schemes.

Alas, GLD is at 1 year highs and within an earshot of 3 yr highs.

If this move is legit, you will start to see some serious asset allocations in the sector, one that is woefully beaten down from the highs. Some of today’s outliers included DRD, HMY, AUY, NGD and MUX.

In all, the sector has tracked in line with the S&P 500 this year, higher by 13% — hardly exuberant.

To put some valuation perspective on the sector, the last time gold was truly in a bull market, back in 2005-2007, price to sales ratios were 7.5x, more than twice as expensive as present valuations. Inside Exodus, we provide historical valuation data for all sectors, industries and stocks, measuring PE’s, P/S, and P/B ratios.

Emmy award winning storm chaser, Jeff Piotrowski, just did a gloomy Periscope, warning people to evacuate Florida, saying a storm of this magnitude will lay waste to wherever it hits.

“You don’t want to experience it. I promise you.When your house starts coming apart and your buildings and walls start collapsing, the boards start punching through the house like torpedoes, like missiles — it’s unbelievable what’s going to happen.”

Having experienced some of the major hurricanes in person, Jeff painted a grim picture of roof tops being torn off, both house and hotels, windows blowing out up to 15 to 20 stories highs — power failures and ‘catastrophic’ damage that will take months to repair.

If you’re wondering about the intensity of this storm, I strongly advise you to watch his Periscope below and heed his dire warnings.

The good folks at the NOAA2 just recorded Hurricane Irma’s surface winds at ~200mph, barreling towards the lesser Antilles. The current trajectory of the storm has it wiping out all of Miami, or perhaps swinging west and laying waste to the Florida keys. Either way, insurance stocks (UVE, HCI, HRTG, FNHC) in Florida are positively doomed.

Here is the latest reading on this great storm of death and cataclysm.

The storm is clocking in at 913.1 mb.

To put this in context, Hurricane Katrina clocked in at 902mb and this system hasn’t even reached the coast yet.

This be the only way to save Florida from #IrmaHurricane pic.twitter.com/gmqYyJL611

— imanol (@2464imanol) September 5, 2017

An update from Guadalupe.

Footage from Guadalupe. #HurricaineIrma pic.twitter.com/RQ0RLTwJLT

— The_Real_Fly (@The_Real_Fly) September 6, 2017

To say that today’s session was merely a dip isn’t an argument. You make yourselves to be clown-fools when you take positions like that.

I want you to behold and have a gander at the sheer carnage of the financial sector today, lit the fuck up because Hurricane Irma is going to bring disaster with her.

HRTG – 18%
HCI -18%
UVE -18%
FNHC -17%
MHLD -10%
AGO -5.5%
FHN -4.5%
HBHC -4%

Ergo, the only reasonable thing to do, especially for a gentleman — such as myself — of extreme importance and decorum is to BET AGAINST THE ENTIRE FINANCIAL SYSTEM AND HOPE THAT IS CRASHES, LEAVING NO SURVIVORS.

Me telling my son about buying $FAZ today with VIX already +35%. pic.twitter.com/Gnd3bcVI0e

— The_Real_Fly (@The_Real_Fly) September 5, 2017

I personally guarantee a continuation of this utter and sheer bloodshed tomorrow. However, bear in mind, everything we once thought was sacred about finance (logic, common sense, math, etc.) has been designated for the trashcan.

For now, let us pray for the end of western finance, spearheaded by the mongrels who profit furiously at Goldman Ballsachs.

Insurance companies are getting hit hard. Irma is clocking in at 185mph and is now considered a Super Cat 5 Hurricane heading straight for Florida. In related news, a new hurricane is forming just behind Irma, ironically called Jose, and it too is heading for Florida.

This has insurancefags shitting their draws.

UVE
HTRG
HCI
UIHC

^^All down double digits.

Refinery stocks are getting hit too, as the WTI-Brent spread narrows and cracks collapse. This is simply a walking back of the ill gotten gains Harvey provided these stocks last week.

But seriously, the financial sector is in all sorts of trouble here, from the property insurance sector to the surety and title insurance. Have a look.

Related: New data suggests 50% of home prices are in bubble territory.

The way to play this: GET IN THE FAZMOBILE.

Is it merely a coincidence that on the day 100 NASDAQS were stolen from the National Treasury, Le Fly decided to step back into discretionary trading?

Perhaps.

One thing is indelibly clear, we’ve got work to do. Once the hydrogen bombs pop off, scores of people will be dehydrated. It is our duty, as peace loving Americans, to provide those in need with pamplemousse flavored sparkling water (pic related).

Laugh all you want, but it’s true. FIZZ is going, the fuck, higher.

Hedging the calamity to come is simple. Fuck the banks. Fuck the banks again. And then fuck the banks last.

Do it, via FAZ.

War requires oil. Trump is a madman. Get long OAS.

In the event you’re unsure, buy GLD and TLT and simply watch as markets begin to unravel and then implode. The coming crash is seasonally appropriate and will produce many “Old Man Scotts.”

Boy, this blogging is making me awfully thirsty. I believe it’s time for a La Croix, Kiwi Sandia flavored, carbonated water pop.

That’s not fucking me. I have way less hair.

Ever since I was a young boy, I wanted to write a nice headline like that. Sad part is, it’s not entirely a fake news headline. Say what you want about Hillary “fucking” Clinton, Trump is doing exactly what we feared she’d do — head us down a ruinous path of war, bloodshed and fuckery.

Rich people.

The Dow Jones is down over 200 now, with the fag-heavy NASDAQ -71. All in all, this is a rather pedestrian decline. You should be concerned if the losses doubled from here.

On the risk off side, the 10yr is off nearly 8bps to 2.08%, sending my TLT higher again.

My quantitive positions are somewhat hedged by the 20% cash and GLD/TLT positions and my discretionary positions are getting ready for some big dicked gains (no homo).

The way I figure, nuclear war with China and “Best Korea” will cause oil prices to careen higher. Plus, it might dehydrate people, upping demand for refreshing beverages. As such, I am profusely long both FIZZ and OAS, with an FAZ hedge — because FUCK THE BANKS.

Hedging my previous long bets in FIZZ and OAS, I went long FAZ — which was flagged oversold on Thursday of last week by Exodus. The thesis here is simple and straightforward: fuck the banks, twice. I hope they burn.

In the event I’m wrong, I’ll be stopping out of this fucker at $16.

The upside is seemingly unlimited.