Pawn Shop Owner Admits to Multi-Year Scheme
Michael Smith, the 60-year-old owner of State Line Pawn in Somersworth, New Hampshire, pleaded guilty to interstate transportation of stolen property, the U.S. Attorney’s Office reported. A resident of Lebanon, Maine, Smith built a multi-year enterprise on retail theft, systematically buying stolen goods from shoplifters known as boosters and reselling the merchandise across state lines.
The Economics of State Line Pawn
According to public court records, the operation ran from 2018 to 2026, during which Smith purchased and resold approximately $750,000 worth of stolen property. Boosters targeted retail stores before offloading the merchandise to Smith at State Line Pawn. Smith typically paid these suppliers in cash, handing over a small fraction of the items’ fair market value—usually between 15% and 25%. He then listed the acquired goods for sale at higher prices through his storefront and online platforms like eBay, shipping items to multiple states outside New Hampshire.
Law Enforcement Uses Controlled Sales to Catch Smith
Law enforcement closed in through a series of controlled sales between 2024 and 2026, using confidential sources to sell purportedly stolen property to the pawn shop owner. Court documents show that Smith occasionally handed cooperating sources a specific wish list detailing items he wanted, including generators, vacuums, and lawn mowers.
Facing Federal Sentencing
The federal charge of Interstate Transportation of Stolen Property carries a maximum sentence of up to 10 years in prison and a fine of up to $250,000. Chief U.S. District Judge Samantha D. Elliott scheduled Smith’s sentencing for February 3, 2027, where penalties will be determined under the U.S. Sentencing Guidelines. The investigation was led jointly by the FBI, IRS Criminal Investigations, and the U.S. Postal Inspection Service, with Assistant U.S. Attorneys Alexander S. Chen and Charles V. DeJoie prosecuting the case.
