Authorities say Larry and Nathaniel Leonard, both of Philadelphia, knowingly bought huge quantities of merchandise stolen from big box stores and then sold them to the tune of millions of dollars.
The U.S. Attorney's Office is also alleging a money laundering scheme connected to the fraud.
The Action Cam was on the scene on December 14, 2023, when federal agents with Homeland Security raided Society Hill Loan on South Street. We saw them carry out box after box marked evidence and stack them in this box truck.
Now we're learning new details about this raid.
According to the indictment, the defendants used their businesses to buy and sell new, stolen, in-box merchandise.
RELATED: Federal agents raid Philadelphia pawn shop in connection with nationwide theft ring: Sources
Federal agents raid Philadelphia pawn shop for possible connection to retail theft ring: Sources
They would buy them from two groups of people they called "boosters" or "mooks."
The group stole millions of dollars in merchandise from big box stores like Home Depot, Walmart, and Best Buy.
The stolen goods were then sold to one of three pawn shops: Lou's Jewelry in Wilmington, K&A in Kensington, or Society Hill Loan.
After that, the stolen merchandise would end up on an eBay site run by the cousins, according to the indictment. The two made more than $19 million selling the ill-gotten goods between November 2019 and December 2023.
Authorities say Larry Leonard controlled the day-to-day operations of K&A and oversaw the day-to-day operations of Lou's Jewelry, and Nathaniel Leonard controlled the day-to-day operations of Society Hill Loan.
Employees at Society Hill Loan had no comment on Friday after the charges were announced.
Both men face charges of conspiracy to transport and sell stolen goods in interstate commerce and interstate transportation of stolen property. Larry Leonard was also charged with money laundering.
If convicted, Larry Leonard faces a maximum possible sentence of 45 years in prison and Nathaniel Leonard faces a maximum possible sentence of 15 years.