(Credit: @SocietyHillLoan on Instagram)
The decades-long operation of one of Philadelphia's most recognizable pawn shops came to a dramatic end Wednesday when Nathaniel "Nat" Leonard pleaded guilty to orchestrating a multi-million-dollar stolen goods trafficking scheme that spanned four years and netted tens of millions of dollars.
According to a report in the Philadelphia Inquirer Leonard, 68, operated Society Hill Loan, a South Street institution with a distinctive yellow sign that bills itself as the city's oldest pawn shop. The business has long been known for having a large supply of musical instruments, particularly vintage guitars, and Leonard over the years posted photos of himself on Instagram with artists who stopped by, including Alice Cooper.
However, behind this legitimate facade, federal prosecutors revealed a sophisticated criminal enterprise. Leonard helped oversee a system of thieves. According to the Inquirer, he often referred to them as "boosters" or "mooks" and they sold him goods including power tools, computer equipment, and electronics that he knew had been stolen from big-box retailers.
The scheme operated on a massive scale between November 2019 and December 2023. From November 2019 through December 2023, the Leonards are alleged to have sold more than $19 million in stolen merchandise via their eBay site. Additional court documents indicate Leonard's operation moved approximately $23 million in stolen goods total, including $4 million sold to an out-of-state wholesaler.
The criminal network targeted major retailers across the region. The first group, known colloquially as "boosters," collectively stole millions of dollars of new retail merchandise from retailers in the Philadelphia and Delaware region, and elsewhere, including from The Home Depot, Lowe's, Target, Walmart, Best Buy, CVS, Rite Aid, Safeway, and others.
Leonard operated alongside his cousin Larry Leonard, 60, who controlled two additional pawn shops: K&A Money Loan Pawnbrokers in Kensington and Lou's Jewelry & Pawnshop in Wilmington, Delaware. Larry Leonard is also charged with three counts of money laundering for using the proceeds of the illegal sale of stolen merchandise to pay off more than $120,000 in credit card bills from December 2022 through April 2023. Larry Leonard has pleaded not guilty and awaits trial.
The operation's scope extended nationwide through online sales. The defendants are alleged to have shipped the stolen merchandise from Society Hill Loan in Philadelphia to customers across the country.
Nat Leonard appeared before U.S. District Judge John Milton Younge Wednesday, pleading guilty to conspiracy to transport stolen goods and interstate transportation of stolen goods. His attorney, Michael Diamondstein, described Leonard as having been "extremely remorseful for his actions". Leonard faces sentencing in December and could receive up to 15 years in prison.
The case, investigated by Homeland Security Investigations with assistance from multiple agencies, represents one of the largest pawn shop-based stolen goods operations prosecuted in the region's recent history.
