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UPDATE: Mayor outlines accomlishments, work that remains
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Haddonfield lawyer Susan Lowden disbarred after reaching tipping point
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Frank Tobolsky claimed loans would be backed by Eagles fans seat licenses
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Frank Tobolsky claimed loans would be backed by Eagles fans seat licenses
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CAMDEN - A Cherry Hill man is accused of duping an investor who entrusted him with $2.4 million.
Frank N. Tobolsky, 59, allegedly stole from an investor who thought he was funding personal loans to season ticket holders for a Philadelphia sports team, according to the U.S. Attorney s Office for New Jersey.
The investor, identified only as a Delaware man, believed the borrowers would use their seat licenses as collateral for the loans, the federal prosecutor s office noted.
But the season ticket holders never existed, according to an indictment. Instead, Tobolsky used a substantial portion on personal expenses, including gambling at casinos, the U.S. Attorney s office said.