Current:Home > ScamsCalifornia family behind $600 million, nationwide catalytic converter theft ring pleads guilty -Mastery Money Tools
California family behind $600 million, nationwide catalytic converter theft ring pleads guilty
View
Date:2025-04-15 15:54:56
Three members of California family pleaded guilty to their roles in a $600 million nationwide catalytic converter theft ring that operated over a three-year period, prosecutors say.
The Vang family were part of a nationwide catalytic converter theft ring that ceased operations in October of 2022 after authorities coordinated a takedown of thieves, dealers and processors over a $600 million sale to a metal refinery.
Monica Moua, 58, and her two sons Tou Sue Vang, 32, and Andrew Vang, 28 were paid over $38 million to transport stolen catalytic converters from California to New Jersey, federal prosecutors from the Eastern District of California announced Monday. All pleaded guilty to conspiring to transport stolen catalytic converters from California to New Jersey in return for the multi-million dollar payments.
Tou Sue Vang also pleaded guilty to an additional 39 charges related to money laundering.
Nine people, including members of the Vang family, out of 21 people believed to be involved in the ring, will face charges in California.
Catalytic converter thefts:Drive a Ford, Honda or Toyota? Good news: Catalytic converter thefts are down nationwide
How did the family sell so many catalytic converters?
Prosecutors said the Vang family ran the operation from their home in Sacramento. After purchasing stolen catalytic converters from local thieves, they shipped the catalytic converters to DG Auto Parts, an LLC registered in New Jersey.
Six people who were managing multiple DG Auto locations in New Jersey had knowingly purchased the stolen catalytic converters and extracted the metal powders in the catalytic converter core, federal prosecutors allege.
The group then proceeded to sell the powders to a metal refinery for money.
Monica Moua and Andrew Yang are both facing up to five years in prison, while Tou Sue Vang could potentially serve anywhere between 5 and 20 years per count, in addition to fines that carry different stipulations per charge.
Midsized vehiclesSeven midsized cars went through a crash safety test. These three received 'poor' ratings.
What makes a catalytic converter so valuable?
The part itself isn’t as valuable as what’s inside it.
Catalytic converters were designed to reduce the amount of toxins and pollutants inside a vehicle’s internal combustion engine.
Precious metals inside the catalytic converter’s core including palladium, platinum, rhodium can be sold for large profit. Some of the metals found in the core are more valuable than an ounce of gold, according to the U.S. Attorney’s Office.
The amount of money paid for a stolen catalytic converter can vary based on the model of the vehicle and its location, but the part's can generally get $1,000 a piece.
The state of California accounts for 37% of all catalytic converter theft claims reported around the country, with approximately 1,600 stolen monthly in 2022.
veryGood! (2842)
Related
- Federal hiring is about to get the Trump treatment
- Dean McDermott Holds Hands With Lily Calo After Tori Spelling Breakup
- Lack of water worsens misery in besieged Gaza as Israeli airstrikes continue
- Palestinians flee northern Gaza after Israel orders mass evacuation with ground attack looming
- Senate begins final push to expand Social Security benefits for millions of people
- Judge authorizes attempted murder trial in shooting over Spanish conquistador statue
- Audio of 911 calls as Maui wildfire rampaged reveals frantic escape attempts
- 12-year-old's 'decomposing' body found in Milwaukee home, homicide investigation underway
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- Microsoft closes massive deal to buy Call of Duty maker Activision Blizzard
Ranking
- South Korean president's party divided over defiant martial law speech
- North Dakota lawmakers must take ‘painful way’ as they try to fix budget wiped out by court
- 30 Amazon Post-Prime Day Deals That Are Still On Sale
- Ban on electronic skill games in Virginia reinstated by state Supreme Court
- A South Texas lawmaker’s 15
- Barrage of bomb threats emailed to schools cancels classes across the Baltic countries
- LeVar Burton to replace Drew Barrymore as host of National Book Awards
- Missouri auditor investigates St. Louis jail amid concerns about management and treatment of inmates
Recommendation
Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
Trump's GOP opponents bristle at his response to Hamas' assault on Israel
Sam Bankman-Fried's lawyer struggles to poke holes in Caroline Ellison's testimony
Hunter Biden investigations lead to ethical concerns about President Biden, an AP-NORC poll shows
Travis Hunter, the 2
Israel tells a million Gazans to flee south to avoid fighting, but is that possible?
Teen arrested in Morgan State shooting as Baltimore police search for second suspect
Medicare Part B premiums for 2024 will cost more: Here's how much you'll pay