Two Philadelphia cousins have been charged in a multimillion-dollar scheme involving the sale of stolen retail merchandise through several pawn shops they operated, federal authorities announced Friday.
Larry Leonard, 60, and Nathaniel “Nat” Leonard, 68, were charged with conspiracy to transport and sell stolen goods in interstate commerce and interstate transportation of stolen property, according to U.S. Attorney Jacqueline C. Romero.
The cousins ran three pawn shops: Society Hill Loan and K&A Money Loan Pawnbrokers, both located in Philadelphia and Lou’s Jewelry and Pawnshop in Wilmington, Delaware. Federal officials allege Larry Leonard managed daily operations at K&A and Lou’s Jewelry, while Nathaniel Leonard oversaw Society Hill Loan.
The scheme: From retail theft to eBay sales
Authorities say the Leonards purchased millions of dollars in new, in-box stolen goods from two organized groups.
The first group, referred to as “boosters,” targeted retailers like Home Depot, Lowe’s, Target, Walmart, Best Buy, CVS, Rite Aid, and Safeway in Philadelphia and Delaware, stealing large quantities of merchandise. The boosters then sold the stolen goods to the Leonards’ pawn shops for cash.
A second group, known as the “mooks,” allegedly stole millions of dollars of retail goods from across the country and sold the items in bulk to the Leonards and their employees.
Federal officials accuse the Leonards of transferring merchandise from Lou’s Jewelry and K&A to Society Hill Loan, where the goods were listed for sale on an eBay account tied to the shop. Between November 2019 and December 2023, authorities allege the Leonards sold more than $19 million in stolen goods through this eBay platform.
Money laundering charges
In addition to the conspiracy charges, Larry Leonard faces three counts of money laundering. Prosecutors allege he used proceeds from the illegal sale of stolen goods to pay off over $120,000 in credit card bills between December 2022 and April 2023.
Potential sentences
If convicted, Larry Leonard could face a maximum sentence of 45 years in prison, while Nathaniel Leonard faces up to 15 years.
Federal authorities emphasized the seriousness of the charges, underscoring their ongoing efforts to dismantle organized theft rings that impact retailers nationwide.
