With the theft of vehicle ‘catalytic converters’ on the rise across the country since the COVID-19 pandemic, federal investigative authorities have been accused of stealing and illegally selling catalytic converters worth hundreds of millions of dollars in nine states, including New York. A large-scale criminal organization was discovered, and 21 people were arrested and prosecuted.
Federal Bureau of Investigation (FBI), Internal Revenue Service (IRS), and Department of Homeland Security (DHS) agents are working on major catalytic converters in nine states: New York, New Jersey, Virginia, California, Oklahoma, Wyoming, Minnesota, Nevada, and North Carolina. On the 2nd, 21 suspects were arrested in a raid on theft organization. Asians were among the suspects.
Among the suspects, brothers Tu Bang, 31, and Andrew Bang, 27, of presumed Vietnamese descent living in Sacramento, run an unauthorized auto parts business at home, and have purchased a catalytic converter from thieves at DG Auto, New Jersey.)’ and earned $38 million worth of unfair profits.
DG Otto made $545 million by selling the metal powder extracted from the catalytic converter to a metal refinery.