Federal agents conducted a lengthy raid on Wednesday at a pawn shop located on South Street in Philadelphia. According to insider information, Action News has learned that the raid conducted was a crucial step in dismantling a nationwide retail theft ring with a value exceeding millions of dollars.
Federal agents from the Department of Homeland Security have started confiscating various items from the location. Around noon, a pawn shop that has been a fixture at the corner of 7th and South streets. Onlookers observed as agents transported boxes labeled as evidence from the store and placed them into unmarked cargo trucks.
Agents left the store with a variety of items, including power tools.
According to insider information, Action News has learned that Homeland Security and Philadelphia police are collaborating in a joint investigation. The investigation is believed to be linked to a widespread retail theft ring operating across multiple states, which has managed to accumulate millions of dollars in stolen goods.
Federal agents also visited two other stores on Wednesday, including one on the 3100 block of Kensington Avenue and another in Wilmington, Delaware, according to sources.
The Office of Homeland Security Investigations spokesperson declined to comment on whether the owners of the stores are facing any charges or the reason behind the agents’ visit to the store. For years, Society Hill Loan has been a prominent establishment on South Street, captivating both locals and online shoppers through its extensive presence on eBay.
The owners of the website have received numerous comments praising them for their efforts in reuniting people with stolen items that were brought to the store to be pawned.
Law enforcement agencies at the local and national level are intensifying their efforts to crack down on retail theft rings across the country.
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