SEC v. Craig H. Carton; Joseph Meli; Advance Entertainment LLC; AdvanceM Ltd.; Misoluki Inc.; Misoluki LLC, et al., No. LR-23929, Southern District of New York (Sept. 6, 2017) — Press Release
raw: Craig H. Carton, et al.
Craig H. Carton, et al., No. LR-23929 (S.D.N.Y. Sept. 6, 2017)
Craig Carton and Joseph Meli were charged with running a $5.6 million concert ticket investment scam, stealing millions from investors and misappropriating funds to repay earlier investors and cover personal expenses, with Carton also facing parallel criminal charges.
Craig Carton, a sports radio personality, and Joseph Meli allegedly stole at least $3.6 million from investors and misappropriated an additional $2 million through a concert ticket investment scam. The defendants promised high returns from ticket resales but instead used the funds to repay earlier investors and cover personal expenses, including Carton's gambling debts. The SEC seeks disgorgement of ill-gotten gains plus interest and penalties against Carton, Meli, and six businesses they control.
Craig Carton, a sports radio personality, and Joseph Meli were charged by the U.S. Securities and Exchange Commission with orchestrating a $5.6 million investment fraud scheme involving fake concert ticket resale schemes. The defendants falsely claimed access to face-value tickets for high-demand shows like Adele and Hamilton, promising investors lucrative returns from resale markups. However, instead of purchasing tickets, Carton and Meli allegedly misappropriated at least $3.6 million to pay earlier investors and cover Carton's gambling debts, with an additional $2 million stolen via a fraudulent venue transaction. The SEC alleged the scheme was a Ponzi-like operation, supported by forged documents and false representations to investors. Carton and Meli, along with six affiliated businesses, face SEC charges seeking disgorgement, interest, and penalties. In a parallel action, the U.S. Attorney's Office for the Southern District of New York announced criminal charges against Carton. The SEC appreciates the assistance of the FBI and the U.S. Attorney's Office for the Southern District of New York in pursuing the case.
Exhibits & Attached Documents (1)
Extracted insights
- $3.60M $3.6 million $1M–$10M
- $2.00M $2 million $1M–$10M
- court complaint in federal district court in manhattan
- person craig h. carton
- person Investors
- agency Securities and Exchange Commission
- organization Securities and Exchange Commission
- person sports radio personality
- Securities and Exchange Commission charged Craig H. Carton
- Securities and Exchange Commission charged another New York City man
- Craig H. Carton stealing millions of dollars from investors
- investors promised funds would be used for the purchase and resale of concert tickets
- SEC filed complaint in federal district court in Manhattan
- Craig H. Carton is sports radio personality
- Craig H. Carton charged with stealing millions of dollars from investors through a concert ticket investment scam
- Securities and Exchange Commission filed complaint against Craig H. Carton and another New York City man for alleged concert ticket investment fraud
- Securities and Exchange Commission alleges that investors' funds were promised for purchase and resale of concert tickets but were stolen
- Craig H. Carton charged with stealing millions of dollars from investors
- Craig H. Carton promised their funds would be used for the purchase and resale of concert tickets
- Securities and Exchange Commission charged Craig H. Carton, et al.
- Craig H. Carton stole millions of dollars from investors
- Securities and Exchange Commission filed complaint in federal district court in Manhattan
- Craig H. Carton allegedly promised their funds would be used for the purchase and resale of concert tickets
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 23929 / September 6, 2017 Securities and Exchange Commission v. Craig H. Carton, et al., No. 17-CV-06764 (S.D.N.Y. filed Sep. 6, 2017) Radio Host Charged With Concert Ticket Investment Scam The Securities and Exchange Commission today charged a sports radio personality and another New York City man with stealing millions of dollars from investors who were allegedly promised their funds would be used for the purchase and resale of concert tickets. In a complaint filed in federal district court in Manhattan, the SEC alleges that Craig Carton and Joseph Meli falsely claimed they had access to large blocks of face value tickets to popular concert performances. According to the SEC's complaint, investors were falsely promised high returns from the price markups in ticket resales. But instead of purchasing tickets for resale, Carton and Meli allegedly misappropriated at least $3.6 million to repay earlier investors and cover such other expenses as Carton's gambling debts. Carton allegedly stole an additional $2 million by tricking a concert venue into forwarding an investor's money into a bank account belonging to one of Carton's companies. According to the SEC's complaint, one investor was provided documents falsely representing that large blocks of Adele tickets were being purchased at face value directly from Adele's management company when in fact no such agreement was in place. Meli was separately charged earlier this year with operating a Ponzi scheme involving purported resales of tickets to the Broadway musical Hamilton and other events. The SEC's complaint seeks disgorgement of ill-gotten gains plus interest and penalties against Carton and Meli along with six businesses they control: Advance Entertainment LLC, AdvanceM Ltd., Misoluki Inc., Misoluki LLC, Ticket Jones LLC, and Tier One Tickets LLC. In a parallel action, the U.S. Attorney's Office for the Southern District of New York today announced criminal charges against Carton. The SEC's case is being handled by Dahlia Rin, John McCann, Martin Healey, and Celia Moore of the Boston office. The SEC appreciates the assistance of the FBI and the U.S. Attorney's Office for the Southern District of New York. SEC Complaint
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 23929 / September 6, 2017 Securities and Exchange Commission v. Craig H. Carton, et al., No. 17-CV-06764 (S.D.N.Y. filed Sep. 6, 2017) Radio Host Charged With Concert Ticket Investment Scam The Securities and Exchange Commission today charged a sports radio personality and another New York City man with stealing millions of dollars from investors who were allegedly promised their funds would be used for the purchase and resale of concert tickets. In a complaint filed in federal district court in Manhattan, the SEC alleges that Craig Carton and Joseph Meli falsely claimed they had access to large blocks of face value tickets to popular concert performances. According to the SEC's complaint, investors were falsely promised high returns from the price markups in ticket resales. But instead of purchasing tickets for resale, Carton and Meli allegedly misappropriated at least $3.6 million to repay earlier investors and cover such other expenses as Carton's gambling debts. Carton allegedly stole an additional $2 million by tricking a concert venue into forwarding an investor's money into a bank account belonging to one of Carton's companies. According to the SEC's complaint, one investor was provided documents falsely representing that large blocks of Adele tickets were being purchased at face value directly from Adele's management company when in fact no such agreement was in place. Meli was separately charged earlier this year with operating a Ponzi scheme involving purported resales of tickets to the Broadway musical Hamilton and other events. The SEC's complaint seeks disgorgement of ill-gotten gains plus interest and penalties against Carton and Meli along with six businesses they control: Advance Entertainment LLC, AdvanceM Ltd., Misoluki Inc., Misoluki LLC, Ticket Jones LLC, and Tier One Tickets LLC. In a parallel action, the U.S. Attorney's Office for the Southern District of New York today announced criminal charges against Carton. The SEC's case is being handled by Dahlia Rin, John McCann, Martin Healey, and Celia Moore of the Boston office. The SEC appreciates the assistance of the FBI and the U.S. Attorney's Office for the Southern District of New York. SEC Complaint