Craig Carton, a New Rochelle native known for co-hosting popular sports talk radio show 'Boomer & Carton,' was arrested on Wednesday and accused of running a Ponzi scheme in part to pay off millions of dollars in gambling debts.

Carton, a Manhattan resident who hosts the show on WFAN with former NFL quarterback Boomer Esiason, faces federal wire fraud and securities charges.

Authorities said that Carton's crew raised more than $5 million by lying to investors who believed they were putting money into a ticket-selling venture for concerts. Instead, authorities said, Carton's crew used the money to repay their old debts and keep the scheme going.

CRAIG CARTON: New Rochelle native arrested in ticket scam

CRAIG CARTON ARREST: 5 things to know about the charges

RADIO:Craig Carton resigns from WFAN position

Here are five things to know about those charges from the criminal complaint.

1. Three men face charges

Carton, 48, Michael Wright and a third unnamed co-conspirator have been charged criminally in the case. Carton also faces civil charges brought by the U.S. Securities and Exchange Commission, along with Joseph Meli. Federal prosecutors have not said if Meli is the third unnamed co-conspirator mentioned in the criminal case.

2. Carton was advised to 'run to Costa Rica'

According to the criminal complaint, on Sept. 5, 2016, Wright emailed Carton and another man involved in the scheme to outline eight potential options for repaying their debts, including, "Run to Costa Rica, change name, and start life all over again — may not be an option."

3. More than $100 million may have been on the line

"Guys, I've done it," Carton texted his co-conspirators, according to the criminal complaint. "One investor ready to commit $10M liquid and $40M LOC with $50M more if needed."

The criminal complaint suggests that "LOC" stands for "line of credit."

There is no indication that the $10 million in liquid capital Carton allegedly mentioned to his co-conspirators ever came through, and the SEC complaint only deals with a total of $5.6 million from two investors — one individual and one hedge fund.

4. Officials say the crew was concerned about how to finish the scam

Authorities said in the complaint the three men were concerned about how to make sure they had enough money to pay back their debts and the investors, including an unnamed hedge fund that had provided money to Carton's crew.

The unnamed co-conspirator, according to the complaint, texted Carton and Wright on Sept. 2, 2016 that he had "formulated a schedule to clean up the debt," according to the criminal complaint.

But three months later, on Dec. 6, 2016, the unnamed co-conspirator allegedly sent another email: "Where do we get the money to buy tickets and further more what deal do we offer the money provider for the tickets? We can not pay [hedge fund] with other people's money right away because it does not work. ... That is the math we have to figure out and work it into a schedule to get down to zero."

5. Authorities called it a 'Ponzi scheme'

The criminal complaint says the plan was to solicit investors to buy tickets to live events in bulk, which would be re-sold at a profit, and the investors’ money was misappropriated to pay debts and repay prior investors as part of a Ponzi-like scheme.

“Carton and Wright thought they could get off easy by allegedly paying off their debts with other people’s money," FBI Assistant Director-in-Charge William F. Sweeney Jr. said in a release. "They then attempted to pay off investors with money that would eventually become future debt, as alleged. We see this time and time again, the rise and fall of a Ponzi scheme destined for failure. The truth is, the time will come when your luck runs out. Unfortunately for those arrested today, that time is now.”

The Journal News/lohud reporter Chris Eberhart contributed to this report.