The black-market price for catalytic converters can be above $1,000 each, depending on the type of vehicle and what state it is from. READ MORE: Catalytic converters, airbags stolen from vehicles in ArlingtonĬatalytic converters are a component of an automotive vehicle's exhaust device that reduce the toxic gas and pollutants from a vehicle's internal combustion engine into safe emissions. Today’s charges showcase how the FBI and its partners act together to stop crimes that hurt all too many Americans." "They made hundreds of millions of dollars in the process-on the backs of thousands of innocent car owners.
"This national network of criminals hurt victims across the country," said FBI Director Christopher Wray. While investigating the theft ring, a team of law enforcement agencies at the local, state and federal levels seized hundreds of millions of dollars in assets from the defendants, including homes, bank accounts, cash, and luxury cars. READ MORE: Virginia General Assembly approves legislation to tackle catalytic converter thefts The federal government is seeking that amount in forfeitures from the defendants. The ring allegedly made about $545 million from the process, the Justice Department said. "De-canning" is the process by which precious metals are extracted from a catalytic converter. 15 of the defendants are charged for the stealing and shipping of the parts, while six workers from DG Auto are charged for the "de-canning" and selling process.
In both indictments, the court records reveal that the defendants shipped the stolen catalytic converters to DG Auto in New Jersey, where they were "de-canned" and sold to a metal refinery. READ MORE: Multiple catalytic converters stolen from vehicles in Stafford County, police say They have been in two different indictments from separate courts, the Eastern District of California and the Northern District of Oklahoma.
The defendants face several charges related to transporting stolen catalytic converters and conspiracy to commit money laundering.
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