Californians plead guilty in $600 million nationwide catalytic converter theft scheme

SACRAMENTO, Calif. — Three contributors of a California circle of relatives pleaded guilty Monday to conspiracy for his or her position in a hoop that shipped $600 million value of stolen catalytic converters from California to New Jersey, federal prosecutors mentioned.

Brothers Tou Sue Vang, 32, and Andrew Vang, 28, in conjunction with their mom, Monica Moua, 58, had been a part of “a national network of thieves, dealers, and processors” who supplied the stolen auto anti-smog units to a steel refinery for greater than $600 million bucks, consistent with a observation from the U.S. legal professional’s place of work.

Twenty-one other folks from California and New Jersey had been charged in the case, prosecutors mentioned. The 3 Sacramento members of the family pleaded guilty to conspiring to move the units in go back for greater than $38 million.

Tou Sue Vang additionally pleaded guilty to 39 fees associated with cash laundering, prosecutors mentioned.

Catalytic converters are simply stolen and comprise valuable metals together with platinum.

“Some of these precious metals are more valuable per ounce than gold, and their value has been increasing in recent years,” the U.S. legal professional’s place of work mentioned. “The black-market price for catalytic converters can be above $1,000 each.”

California accounts for 37% of catalytic converter theft claims nationwide, with about 1,600 reported stolen every month, federal prosecutors mentioned.