Larry Leonard, a 62-year-old resident of Philadelphia, pleaded guilty on May 11 before United States 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 U.S. Attorney David Metcalf, Leonard's charges stem from the theft and resale of millions of dollars’ worth of stolen merchandise that he received and sold through his pawn shops: Society Hill Loan and K&A Money Loan Pawnbrokers in Philadelphia, as well as Lou’s Jewelry and Pawnshop in Wilmington, Delaware.
Court documents state that from 2019 through 2023, Leonard purchased expensive items such as electronics, power tools, electric toothbrushes, and vacuums from drug addicts and professional thieves who had stolen them from major retailers including Walmart, Home Depot, Rite Aid, and Target. Leonard paid the thieves a fraction of the retail value for these goods before reselling them online for profit. From November 2019 through December 2023 alone, more than $19 million in stolen merchandise was sold via an eBay storefront named “societyhillloan,” with shipments made nationwide from Society Hill Loan in Philadelphia. Additional millions were sold directly to individual wholesalers.
Prosecutors said Leonard used proceeds from these activities to fund a lavish lifestyle for himself and his wife that included overseas trips, concerts, sporting events, and luxury purchases.
The sentencing hearing is scheduled for August 25. Leonard faces up to 45 years in prison if given the maximum penalty allowed by law.
Homeland Security Investigations led the investigation with help from several agencies including the U.S. Postal Inspection Service; Internal Revenue Service - Criminal Investigation; Delaware State Police; Philadelphia Police Department; as well as cooperation from multiple retailers such as Walmart and Home Depot.
