Photo Credit: Dave Kotinsky/Getty

WFAN radio host Craig Carton resigned today, exactly one week after news broke of his arrest for securities and wire fraud.

Carton—of Boomer & Carton Show fame—announced his resignation in a short statement today, saying that he did not want his legal trouble to become a “distraction” for his coworkers at WFAN, though he claims that the lawsuit is “unfounded.” The station had suspended him last week after his arrest.

Carton, alongside businessman Joseph Meli, ripped off investors in the pair’s companies—getting $5.6 million from them after falsely claiming that they had access to millions of dollars of concert tickets, according to the Security and Exchanges Commission’s lawsuit against the two men. The lawsuit alleges that Carton was looking to use the scam in part to pay off his $2.5 million in gambling debt.

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