United States Attorney Jacqueline C. Romero has announced the indictment of Larry Leonard, 60, and Nathaniel “Nat” Leonard, 68, both residents of Philadelphia, Pennsylvania. The cousins are charged with conspiracy to transport and sell stolen goods in interstate commerce and interstate transportation of stolen property. Larry Leonard also faces charges of money laundering.
The Leonards operated three pawn shops: Society Hill Loan and K&A Money Loan Pawnbrokers in Philadelphia, and Lou’s Jewelry and Pawnshop in Wilmington, Delaware. According to the indictment, they allegedly used these businesses to buy and sell significant amounts of new, stolen merchandise provided by two main groups.
One group, known as "boosters," reportedly stole millions of dollars worth of retail merchandise from stores such as The Home Depot, Lowe’s, Target, Walmart, Best Buy, CVS, Rite Aid, Safeway, among others in the Philadelphia and Delaware region. They then sold these items to the Leonards’ pawn shops for cash.
The second group referred to as "mooks" allegedly stole merchandise across the United States and resold it in bulk to the defendants for cash regularly. The indictment claims that the Leonards transferred stolen goods from Lou’s Jewelry in Delaware and K&A in Philadelphia to Society Hill Loan in South Philadelphia. There they listed the items for sale on their eBay site.
Between November 2019 and December 2023, it is alleged that more than $19 million worth of stolen merchandise was sold through this eBay platform. Additionally, Larry Leonard is accused of using proceeds from these sales to pay off over $120,000 in credit card bills between December 2022 and April 2023.
If convicted on all charges, Larry Leonard could face up to 45 years in prison while Nathaniel Leonard could face up to 15 years.
This investigation was conducted by Homeland Security Investigations with assistance from several agencies including the U.S. Postal Inspection Service and IRS. The prosecution is being handled by Assistant United States Attorneys Matthew T. Newcomer and S. Chandler Harris.
It should be noted that an indictment or criminal complaint is merely an accusation; defendants are presumed innocent until proven guilty.