Terrace Tasby, 33, of Dallas Texas, has been charged with murder, multiple violations of the Pennsylvania Uniform Firearms Act and related offenses.
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The shooting happened around 2:16 p.m. Saturday at 19th and Market streets.
Police say two men became involved in an altercation on a trolley platform.
During the altercation, police say Tasby pulled a handgun from his waistband and shot the other male, identified as 64-year-old Kevin Fulton of Philadelphia, several times in the head, shoulder, right hand and back.
Tasby fled the scene.
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Medics performed CPR on Fulton and rushed him to Jefferson University Hospital where he was pronounced dead a short time later.
SEPTA police arrested Tasby around 11:12 a.m. Monday at 8th and Market streets.
Police say a weapon was recovered.
The investigation is ongoing.