"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," Carton said in a statement posted on his Twitter account. "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."
The co-host of the popular "Boomer and Carton" morning show was taken into federal custody on September 6th and charged with allegedly ripping off millions of dollars from investors in scheme involving fake concert tickets.
Federal prosecutors say Carton used the scheme to allegedly help pay off substantial gambling debts.
Carton was then released on $500,000 bail later that day and was subsequently suspended by the radio station.
The radio personality broke his silence on Tuesday when he vowed to come back "stronger than ever" in a statement.
Carton, along with alleged co-conspirator Michael Wright are each charged with one count of conspiracy to commit securities fraud and wire fraud, one count of wire fraud, and one count of securities fraud and could face up to 45 years behind bars.