Current:Home > reviewsCalifornia family behind $600 million, nationwide catalytic converter theft ring pleads guilty -Ascend Wealth Education
California family behind $600 million, nationwide catalytic converter theft ring pleads guilty
Indexbit View
Date:2025-04-06 23:41:06
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! (97)
Related
- Trump's 'stop
- Israel drawn to face Iceland in Euro 2024 playoffs, then would play winner of Bosnia vs. Ukraine
- One of the last tickets to 1934 Masters Tournament to be auctioned, asking six figures
- South Korea says Russian support likely enabled North Korea to successfully launch a spy satellite
- This was the average Social Security benefit in 2004, and here's what it is now
- Humanitarians want more aid for Gaza, access to hostages under Israel-Hamas truce. And more time
- Michigan man arrested and charged with murder in 2021 disappearance of his wife
- D-backs acquire 3B Eugenio Suárez from Mariners in exchange for two players
- Meta donates $1 million to Trump’s inauguration fund
- 4-day truce begins in Israel-Hamas war, sets stage for release of dozens of Gaza-held hostages
Ranking
- Don't let hackers fool you with a 'scam
- Five people injured, including three young children, during suspected stabbing incident in Dublin
- Retailers offer big deals for Black Friday but will shoppers spend?
- The JFK assassination: As it happened
- B.A. Parker is learning the banjo
- Venice rolls out day-tripper fee to try to regulate mass crowds on peak weekends
- AP Week in Pictures: Latin America and Caribbean
- Watch man travel 1200 miles to reunite with long-lost dog after months apart
Recommendation
House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
'SNL' trio Please Don't Destroy on why 'Foggy Mountain' is the perfect Thanksgiving movie
Warren Buffett donates nearly $900 million to charities before Thanksgiving
Retailers offer big deals for Black Friday but will shoppers spend?
Taylor Swift makes surprise visit to Kansas City children’s hospital
Colts LB Shaquille Leonard stunned by release, still shows up for turkey drive
CEO, co-founder of Cruise Kyle Vogt resigns from position
Five people injured, including three young children, during suspected stabbing incident in Dublin