(TMZ) Craig Carton’s partner in an alleged ticket fraud scheme was so concerned about the million in debt they allegedly owed … he considered fleeing the country and assuming a new identity.

At least, that’s what investigators say they learned during a criminal probe into the famous radio host — who allegedly bilked investors out of millions of dollars to repay casino debts.

As we previously reported, Carton — one-half of the famous “Boomer and Carton Show” — was arrested by FBI agents early Wednesday morning.

Officials say he and another man concocted and executed a ponzi-style scheme to take millions of dollars from investors under the guise of a ticket scalping business. Only, the money was allegedly used to pay off hundreds of thousands of dollars in mysterious personal debts … which appear to be related to gambling.

The docs, filed in federal court in New York, don’t specifically say Carton blew the money gambling … but alleges he made several HUGE wire transfers to casino companies using money that was supposed to be used for the ticket business.

At one point, Carton’s alleged co-conspirator fired off an email to Carton with the following proposal to escape their debts — “Run to Costa Rica, change name, and start life all over again.”

The other man noted, “May not be an option.”

Officials say Carton didn’t seem too fazed — assuring the other man he had another US$1 million coming in from investors and “will need to be discussed how to handle.”

They never made it to Costa Rica.

Story originally appeard on TMZ. Click here.