Police yesterday arrested Joshua Garrand, 28, of Methuen, Mass., and Christopher Nashed, 22, of Sandown on felony theft charges of stealing $132,468 worth of the popular computer phone and reselling them on the black market, police said.
Garrand and Nashed were taken into custody at their homes yesterday afternoon without incident.
"These (phones) are in very high demand," said Deputy police Chief William Ganley.
Police wouldn't say how the men were selling the iPhones; however, investigators were first contacted by the store in early January.
Salem police Sgt. Steve Malisos dug through store records and spent three months on the case.