Cherry Hill Man Gets Prison Term For Scam Based On Philadelphia Eagles Seat Licenses

CAMDEN – A Cherry Hill man has received a four-year prison term for a scam based on false claims about Philadelphia Eagles seat licenses.

Frank N. Tobolsky, 60, took almost $2.4 million from an investor who believed the cash was funding loans to Eagles fans, with seat licenses at Lincoln Financial Field serving as collateral, said the U.S. Attorney’s Office for New Jersey.

“The money was not used for loans to season ticket holders,” the federal prosecutor’s office said in a statement Thursday. “Instead, Tobolsky used a substantial portion on personal expenses.”

Tobolsky returned some of the money to the investor in “lulling” payments that were purported to be a return on the investment. In fact, the payments were the victim’s own money, said an April 2021 indictment.

Tobolsky, an attorney when he was indicted, conducted the scheme from November 2013 through May 2016, the prosecutor’s office said.

U.S. District Judge Noel L. Hillman imposed the sentence Thursday in Camden federal court. He also ordered Tobolsky to pay almost $2 million in restitution to the victim.

Tobolsky previously pleaded guilty before Hillman to a count of wire fraud.

Jim Walsh:

https://sports.yahoo.com/cherry-hill-man-gets-prison-150125703.html