The Justice Department announced charges Wednesday against 21 people accused of running a nationwide catalytic converter theft ring from California to New Jersey. Catalytic converters, which reduce emissions from a car’s engine, are increasingly targeted by thieves because of the precious metals they contain, such as platinum and rhodium. Each catalytic converter can fetch more than $1,000 on the black market, and the lack of VIN or serial number information makes them difficult to track down. “This nationwide criminal network harmed victims across the country,” FBI Director Christopher Wray said in a statement. “They made hundreds of millions of dollars in the process — on the backs of thousands of innocent car owners. The underside of a Toyota Prius where a catalytic converter was stolen by thieves at Militoâs Auto Repair in Lincoln Park on August 24, 2022. (Victor Hilitski/Chicago Tribune/Tribune News Service via Getty Images/Getty Images) In one of the indictments unsealed Wednesday, the U.S. Attorney for the Eastern District of California detailed how a group of thieves in the Golden State allegedly bought stolen catalytic converters and then shipped them to DG Auto Parts in New Jersey for processing. CALIFORNIA TO HOLD FINAL HEARING ON BAN ON SALE OF NEW GAS CARS BY 2035 The owners of DG Auto Parts allegedly extract the precious metals through a “de-canning” process and sell the powders to metal refiners. The plan reportedly netted $545 million, which the government is now trying to grab. An auto shop owner puts a sticker on the catalytic converter of a Toyota Tacoma to prevent thieves from cutting the part off a car. (AAron Ontiveroz/MediaNews Group/The Denver Post via Getty Images/Getty Images) A particulate catalytic converter for a Diesel car. (Reuters/Michael Dalder/Reuters Photos) GET THE FOX BUSINESS ON THE GO BY CLICKING HERE Law enforcement has already seized assets worth millions, including homes and luxury vehicles, while executing 32 search warrants. DG Auto Parts did not return phone calls Wednesday afternoon.
