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Upper Saddle River Man Arrested In Ponzi Scheme Is Strip Club Exec

Michael Wright of Upper Saddle River.
Michael Wright of Upper Saddle River. Photo Credit: Contributed

UPPER SADDLE RIVER, N.J. — The Upper Saddle River man arrested with a WFAN radio host is a New York City strip club executive, NJ.com reports.

Michael Wright, 41, was arrested Wednesday morning at his Carlough Road home and charged with several counts of fraud for a Ponzi-like scheme he ran with radio host Craig Carton.

Wright is the COO of Sapphire NY, Prime 333 Steakhouse, SINS of Sapphire and more, according to NJ.com.

According to Facebook, he went to Queen of Peace and is an East Rutherford native. He is married to Malissa Wright.

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