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Date: Oct. 28, 2026
Contact: newsroom@ci.irs.gov
Concord – Lebanon, Maine resident Michael Smith pleaded guilty today to Interstate Transportation of Stolen Property, U.S. Attorney Erin Creegan announces. Chief U.S. District Judge Samantha D. Elliott has scheduled sentencing for Feb. 3, 2027.
According to the public record, Smith owned State Line Pawn, a pawn shop located in Somersworth, New Hampshire. Smith bought stolen items from “boosters,” who shoplifted items from retail stores. Smith paid boosters a small percentage of the items’ fair market value in cash, usually between 15% and 25%. Smith then resold the items at a much higher price than he paid for, but less than the fair market value. Smith resold stolen property on websites such as eBay and through his pawn shop. Stolen property Smith bought and resold was shipped to multiple states outside of New Hampshire.
On several occasions between 2024 and 2026, law enforcement conducted controlled sales of purportedly stolen property to Smith. Smith sometimes gave a cooperating confidential source a wish list of items he wanted. For example, Smith requested the cooperator grab generators, vacuums, and lawn mowers. Between 2018 and 2026, Smith purchased and sold $750,000 worth of stolen property.
The charge of Interstate Transportation of Stolen Property carries a sentence of up to 10 years in prison and a fine of up to $250,000. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.
IRS Criminal Investigation, the FBI, and U.S. Postal Inspection Service led the investigation. Assistant U.S. Attorneys Alexander S. Chen and Charles V. DeJoie are prosecuting the case.
IRS-CI is the law enforcement arm of the IRS, responsible for conducting financial crime investigations, including tax fraud, narcotics trafficking, money laundering, public corruption, healthcare fraud, identity theft and more. It is the only federal law enforcement agency with investigative jurisdiction over violations of the Internal Revenue Code. IRS-CI has 16 field offices located across the U.S. and maintains an international presence through attaché posts abroad.