Home Substantial portion Camden Co Man admits role in $ 2 million Eagles licensing scheme

Camden Co Man admits role in $ 2 million Eagles licensing scheme

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Camden County man faces up to 20 years in prison after admitting defrauding nearly $ 2 million victim into fraudulent investment scheme involving siege licenses for Philadelphia Eagles membership holders .

Frank N. Tobolsky, 59, of Cherry Hill, pleaded guilty in federal court in Camden on Monday to one count of wire fraud, according to Acting U.S. Attorney Rachael Honig.

Authorities said in 2013, “Tobolsky raised money from a victim, allegedly as an investment that would lend money to season ticket holders who had seat licenses for the Philadelphia Eagles. Headquarters licenses would be used as collateral to secure the loans. The victim sent Tobolsky to invest about $ 2.4 million in the alleged business venture. The money was not used for loans to season ticket holders. Instead, Tobolsky used a substantial portion for personal expenses. “

The single count of wire fraud carries up to 20 years in prison and a fine of $ 250,000.

The sentencing is scheduled for the Friday before Super Bowl LVI, February 10, 2022.

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