Posted on: October 7, 2021, 04:17h. 

Last updated on: October 7, 2021, 05:15h.

A disbarred New Jersey lawyer pleaded guilty this week to defrauding an investor in a bogus business that purported to offer loans to Philadelphia Eagles fans.

Frank Tobolsky
Frank Tobolsky in a New Jersey State Police mugshot taken in 2019. Two years earlier, he was barred from practicing law for misappropriating a client’s money from an escrow account. (Image: New Jersey State Police)

Instead, Frank Tobolsky spent most of a $2.4 million investment on personal expenses and a “crippling” gambling habit.

Prosecutors said Tobolsky, 59, told the sole investor the business would use Eagles fans’ seat licenses as collateral to secure the loans. The victim sent the money to Tobolsky in tranches between 2013 and 2016.

A personal seat license, or PSL, entitles a sports fan the right to purchase season tickets for a specific seat in a stadium. The holder can sell the license to someone else if they no…

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