Camden County, NJ, Man Admits Role in $2M Fraud Scheme Involving Eagles Seat Licenses
A Camden County man is facing up to 20 years in prison after admitting to defrauding a victim out of nearly $2 million in a fraudulent investment scheme that involved seat licenses for Philadelphia Eagles season ticket holders.
59-year-old Frank N. Tobolsky of Cherry Hill pleaded guilty in Camden federal court on Monday to one count of wire fraud, according to Acting U.S. Attorney Rachael Honig.
Authorities say in 2013, "Tobolsky raised money from a victim, purportedly as an investment that would loan money to season ticket holders who owned seat licenses for the Philadelphia Eagles. The seat licenses would be used as collateral to secure the loans. The victim sent Tobolsky approximately $2.4 million to invest in the purported business venture. The money was not used for loans to season ticket holders. Instead, Tobolsky used a substantial portion on personal expenses."
The single count of wire fraud carries up to 20 years in prison and a $250,000 fine.
Sentencing is scheduled for the Friday before Super Bowl LVI, February 10, 2022.