PHILADELPHIA, PA — Federal authorities have announced charges against two Philadelphia cousins, Larry Leonard, 60, and Nathaniel “Nat” Leonard, 68, accusing them of operating a sophisticated and large-scale operation involving the transportation and sale of stolen retail goods. The pair face allegations that they used their pawn shops to traffic millions of dollars worth of merchandise obtained through theft.
According to an indictment released by U.S. Attorney Jacqueline C. Romero, the cousins allegedly ran three pawn shops, two located in Philadelphia and one in Wilmington, Delaware. The businesses—Society Hill Loan, K&A Money Loan Pawnbrokers (“K&A”), and Lou’s Jewelry and Pawnshop (“Lou’s Jewelry”)—are at the center of what investigators describe as a far-reaching scheme.
Alleged Network of Theft and Resale
The indictment charges the Leonards with buying stolen goods from two distinct groups. The first group, referred to as “boosters,” allegedly targeted major retailers across the region, including The Home Depot, Lowe’s, Target, Walmart, Best Buy, CVS, and Rite Aid. These individuals are accused of stealing millions of dollars in merchandise, which they are said to have sold to the Leonard businesses for cash.
The second group, called “mooks” by the defendants according to the indictment, purportedly acquired goods through theft on a national scale. These stolen items were allegedly sold in bulk to the defendants or their employees.
Prosecutors claim that the stolen merchandise was often transported from Lou’s Jewelry in Delaware and K&A in the Kensington neighborhood of Philadelphia to Society Hill Loan in South Philadelphia. From there, the items were allegedly listed for sale on Society Hill Loan’s eBay store, which was controlled by the defendants. Between November 2019 and December 2023, the indictment states, over $19 million in stolen goods were sold online and shipped to customers throughout the United States.
Financial Allegations and Money Laundering
Larry Leonard is also facing allegations of money laundering. Prosecutors allege that he used proceeds from the sale of stolen goods to pay off more than $120,000 in personal credit card debt between late 2022 and early 2023.
If convicted, Larry Leonard could face up to 45 years in prison, while Nathaniel Leonard faces a maximum sentence of 15 years.
Ongoing Investigation
The case was built on an investigation by Homeland Security Investigations with support from the U.S. Postal Inspection Service, the IRS, Delaware State Police, and the Philadelphia Police Department. Assistant United States Attorneys Matthew T. Newcomer and S. Chandler Harris are leading the prosecution.
Both men are accused of taking part in a conspiracy, but it is important to note that charges in an indictment are merely allegations. All defendants are presumed innocent unless proven guilty in a court of law.
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