CAMDEN – A Cherry Hill man has admitted to stealing almost $2 million through a scam based on non-existent seat licenses for Philadelphia Eagles games, federal authorities say.

Frank N. Tobolsky, 59, allegedly convinced an investor to provide money for loans to people who owned seat licenses at Lincoln Financial Field in South Philadelphia, according to the U.S. Attorney’s Office for New Jersey.

The victim was told borrowers would pledge their seat licenses as collateral for loans, the federal prosecutor’s office said.

Lincoln Financial Field in Philadelphia

But there were no borrowers or seat licenses, the U.S. Attorney’s Office said in a statement.

 “Instead, Tobolsky used a substantial portion (of the investor’s cash) on personal expenses,” the statement said.

The investor, identified only as a Delaware man, provided about $2.4 million to Tobolsky, according to an indictment. It said Tobolsky returned some of the money to the victim, claiming that was a return on his investment.

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