Law Enforcement Busts , Theft Ring Making Millions , From Catalytic Converters. NPR reports that 21 people have been arrested under suspicion of their involvement in a theft ring that made millions of dollars from stolen catalytic converters. . NPR reports that 21 people have been arrested under suspicion of their involvement in a theft ring that made millions of dollars from stolen catalytic converters. . A team of law enforcement agencies seized hundreds of millions of dollars in assets, such as homes, bank accounts, cash, cars and jewelry from defendants. A team of law enforcement agencies seized hundreds of millions of dollars in assets, such as homes, bank accounts, cash, cars and jewelry from defendants. The individuals face multiple charges, including conspiracy to transport stolen catalytic converters and conspiracy to commit money laundering. The individuals face multiple charges, including conspiracy to transport stolen catalytic converters and conspiracy to commit money laundering. NPR reports that the federal government is seeking $545 million in forfeitures. This national network of criminals hurt victims across the country. They made hundreds of millions of dollars in the process — on the backs of thousands of innocent car owners, Christopher Wray, FBI Director, via NPR. 15 of the individuals have been accused of buying catalytic converters from local thieves and then shipping the stolen parts to DG Auto in New Jersey. Meanwhile, six people from DG Auto have been accused of buying the stolen parts and allegedly making about $545 million selling them. The catalytic converter contains rare metals, including rhodium platinum and palladium, which can be worth hundreds of dollars at scrap yards. According to the National Insurance Crime Bureau, over 14,000 catalytic converters were stolen in 2020. . Since the beginning of the COVID pandemic, the prices of the metals have increased, which has impacted their production in places like Russia and South Africa
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