Current:Home > FinanceCalifornia family behind $600 million, nationwide catalytic converter theft ring pleads guilty -Thrive Capital Insights
California family behind $600 million, nationwide catalytic converter theft ring pleads guilty
View
Date:2025-04-19 20:37:24
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! (98212)
Related
- The Best Stocking Stuffers Under $25
- Damages to college athletes to range from a few dollars to more than a million under settlement
- Five American candidates who could light cauldron at 2028 Los Angeles Olympics
- More Red Lobsters have closed. Here's the status of every US location
- Jury selection set for Monday for ex-politician accused of killing Las Vegas investigative reporter
- ‘Twisters’ tears through Oklahoma on the big screen. Moviegoers in the state are buying up tickets
- Family sues after teen’s 2022 death at Georgia detention center
- Olympics opening ceremony: Highlights, replay, takeaways from Paris
- Hidden Home Gems From Kohl's That Will Give Your Space a Stylish Refresh for Less
- Where RHOC's Gina Kirschenheiter Stands With Boyfriend Travis Mullen After He Moved Out of Her House
Ranking
- American news website Axios laying off dozens of employees
- ‘El Mayo’ Zambada, historic leader of Mexico’s Sinaloa cartel, and son of ‘El Chapo’ arrested in US
- Sammy Hagar 'keeping alive' music of Van Halen in summer Best of All Worlds tour
- Watch a shark's perspective as boat cuts across her back, damaging skin, scraping fin
- British golfer Charley Hull blames injury, not lack of cigarettes, for poor Olympic start
- New York City turns to AI-powered scanners in push to keep guns out of the subway system
- Son of Ex-megachurch pastor resigns amid father's child sex abuse allegations
- Hurricane Beryl death toll in Texas climbs to at least 36: Reports
Recommendation
Michigan lawmaker who was arrested in June loses reelection bid in Republican primary
New Orleans’ mayor accused her of stalking. Now she’s filed a $1 million defamation suit
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Torchbearers
Mexican drug lord Ismael 'El Mayo' Zambada and 'El Chapo' Guzman's son arrested in Texas
Euphoria's Hunter Schafer Says Ex Dominic Fike Cheated on Her Before Breakup
France’s train network hit by 'massive attack' before Olympics opening ceremony
Former cast member of MTV's '16 and Pregnant' dies at 27: 'Our world crashed'
Hugh Jackman Gets Teased Over His Divorce in Deadpool & Wolverine