PHILADELPHIA, PA — A Philadelphia pawnbroker pleaded guilty Monday to federal charges tied to a yearslong scheme involving the purchase and resale of millions of dollars in stolen merchandise taken from major retail chains across the region.
Larry Leonard, 62, pleaded guilty before U.S. District Judge John M. Younge to conspiracy to transport and sell stolen goods in interstate commerce, interstate transportation of stolen property, and three counts of money laundering, according to the U.S. Attorney’s Office for the Eastern District of Pennsylvania.
Federal prosecutors alleged Leonard operated the scheme from 2019 through 2023 through pawn shops he controlled in Philadelphia and Wilmington, Delaware, including Society Hill Loan, K&A Money Loan Pawnbrokers, and Lou’s Jewelry and Pawnshop.
According to court filings, Leonard purchased stolen merchandise from drug users and organized retail thieves at a fraction of retail value before reselling the items online and through wholesalers.
Authorities said the stolen products included electronics, power tools, electric toothbrushes, and vacuums taken from retailers including Walmart, Home Depot, Rite Aid, Target, Best Buy, Lowe’s, CVS, and Harbor Freight Tools.
Prosecutors said Leonard and associates sold more than $19 million in stolen merchandise through the eBay storefront “societyhillloan” between November 2019 and December 2023, shipping products nationwide from the Society Hill Loan location in Philadelphia.
Court filings also alleged millions of dollars in additional stolen merchandise were sold directly to third-party wholesalers.
Federal authorities alleged Leonard used proceeds from the operation to finance personal expenditures including international travel, sporting events, concerts, and luxury purchases.
Leonard was indicted in December 2024 and faces a maximum possible sentence of 45 years in prison. Sentencing is scheduled for August 25.
The investigation was led by Homeland Security Investigations with assistance from the U.S. Postal Inspection Service, IRS Criminal Investigation, Delaware State Police, and the Philadelphia Police Department.
Assistant U.S. Attorneys Matthew T. Newcomer, S. Chandler Harris, and Eric Gill are prosecuting the case.
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