California Family Members Plead Guilty in Massive $600M Catalytic Converter Theft Scheme

Three members of a California family, including two brothers and their mother, have pleaded guilty to conspiracy charges for their involvement in a nationwide catalytic converter theft scheme. The ring, consisting of thieves, dealers, and processors, shipped stolen catalytic converters worth $600 million from California to New Jersey. The family members pleaded guilty to transporting the devices in exchange for over $38 million. One of the brothers also pleaded guilty to charges related to money laundering. Catalytic converters are easily stolen and contain valuable precious metals, with the black-market price for each converter reaching above $1,000. California accounts for 37% of catalytic converter theft claims in the country.