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

2024-12-26 01:34:18 source:lotradecoin benefits category:Scams

SACRAMENTO, Calif. (AP) — Three members of a California family pleaded guilty Monday to conspiracy for their role in a ring that shipped $600 million worth of stolen catalytic converters from California to New Jersey, federal prosecutors said.

Brothers Tou Sue Vang, 32, and Andrew Vang, 28, along with their mother, Monica Moua, 58, were part of “a national network of thieves, dealers, and processors” who provided the stolen auto anti-smog devices to a metal refinery for more than $600 million dollars, according to a statement from the U.S. attorney’s office.

Twenty-one people from California and New Jersey have been charged in the case, prosecutors said. The three Sacramento family members pleaded guilty to conspiring to transport the devices in return for more than $38 million.

Tou Sue Vang also pleaded guilty to 39 charges related to money laundering, prosecutors said.

Catalytic converters are easily stolen and contain precious metals including 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. attorney’s office said. “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 each month, federal prosecutors said.

More:Scams

Recommend

East Coast storm makes a mess at ski resorts as strong winds cause power outages

PORTLAND, Maine (AP) — A storm that swept up the East Coast delivered a blow to New England, packing

A neurological disorder stole her voice. Jennifer Wexton takes it back on the House floor.

When Jennifer Wexton rises Thursday to speak on the House floor, something she has done countless ti

Retired and still paying a mortgage? You may want to reconsider

Age-old wisdom instructs that a home is a good investment for Americans of any age.But what if you a