A gambling-addicted, disbarred lawyer has admitted that he stole nearly $2m in a Philadelphia Eagles-linked fraud scheme. [Image: Shutterstock.com]
Fraudulent loans to season-ticket holders
Disbarred attorney Frank N. Tobolsky, 59, has admitted to stealing nearly $2m via a fraud scheme claiming to bankroll loans to Philadelphia Eagles season-ticket holders.
The US Attorney’s Office for the District of New Jersey (USAO NJ) took to Twitter on October 4 to share Tobolsky’s admission:
According to Acting US Attorney Rachael A. Honig, Tobolsky pleaded guilty to one count of wire fraud. The Camden County, New Jersey native entered his plea before US District Judge Noel L. Hillman in Camden federal court.
A USAO NJ news release stated that the funds Tobolsky raised from a victim came from an investment supposedly intended to loan money to the Philadelphia-based National Football League (NFL) franchise’s season-ticket holders who owned seat licenses.
withdrawing cash for gambling at various casinos”
An April 2021 indictment filed by the US District Court District of New Jersey said the ill-gained funds were for Tobolsky’s personal use, “including withdrawing cash for gambling at various casinos.”
Potential 20-year prison term
The Department of Justice (DOJ) news release stated that the victim, from Delaware, sent Tobolsky about $2.4m supposedly to fund loans for Eagles season-ticket holders, believing it was an investment opportunity. Tobolsky instead used a…