Feds Bust Nationwide Catalytic Converter Theft Ring
The U.S. Justice Department yesterday said it busted a nationwide crime network responsible for stealing countless catalytic converters.The theft ring is said to have made tens of millions of dollars off of the stolen catalytic converters.The feds have arrested 21 people in five states and are seeking over $545 million in forfeitures.
If you’re one of the people who recently had their catalytic converter ripped out and stolen from underneath their car, the feds might have just busted the criminals who did it. That’s because the U.S. Justice Department yesterday announced that it took down a nationwide catalytic converter theft ring.
What’s a catalytic converter? It’s essentially an anti-pollution device that’s part of a vehicle’s exhaust system, and it contains precious metals that can be sold for a lot of money. If you’re wondering how much money, the FBI said the network of thieves, dealers, and processors made tens of millions of dollars off the stolen parts.
As part of the takedown that involved law enforcement officers at the local, state, and federal levels, 21 people in five states have been arrested and charged in two separate indictments.
Federal grand juries in California and Oklahoma have filed separate charges for conspiracy to transport stolen catalytic converters and conspiracy to commit money laundering, among other similar chargers. In total, the U.S. government is seeking over $545 million in forfeitures.
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