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The U.S. Division of Justice introduced Wednesday that it took down a nationwide catalytic converter theft ring answerable for funneling tens of tens of millions of {dollars} in stolen elements by way of a steel refinery. A complete of 21 defendants have been charged in two separate indictments that additionally led to the seizure of practically $550 million in belongings, together with houses, financial institution accounts, money and — you guessed it — luxurious vehicles.
“Amidst an increase in catalytic converter thefts throughout the nation, the Justice Division has right now carried out an operation arresting 21 defendants and executing 32 search warrants in a nation-wide takedown of a multimillion-dollar catalytic converter theft community,” stated Lawyer Basic Merrick B. Garland in DOJ’s announcement. “We are going to proceed to work alongside our state and native companions to disrupt felony conspiracies like this one that focus on the American individuals.”
The indictments had been unsealed within the Jap District of California and the Northern District of Oklahoma. The California case might be introduced in opposition to 9 defendants charged with conspiracy to move stolen catalytic converters, conspiracy to commit cash laundering, and different associated costs. Three individuals (two siblings and a 3rd occasion) in Sacramento are charged with buying stolen catalytic converters and transport them to New Jersey for processing; the DOJ says the three funneled $38 million in stolen cats to the the NJ outfit, DG Auto Components LLC.
The Oklahoma case costs 13 defendants with 40 counts of conspiracy to obtain stolen catalytic converters, conspiracy to commit cash laundering, and different associated costs. They’re accused of working in broadly the identical method because the defendants in California, as much as and together with channeling their stolen components by way of DG Auto. One member of the NJ ring obtained greater than $45 million from DG Auto in change for stolen catalytic converter cores, with others receiving funds totaling between $6 and $13 million.
“Identical to the dear steel inside each catalytic converter, there’s a cash path on the core of each felony scheme,” stated IRS investigator Jim Lee. “Our IRS-CI particular brokers and companions are extremely well-versed at unraveling monetary trails, and this case isn’t distinctive. There are actual victims right here – buddies, neighbors, and companies – and our hope is that right now’s arrests will deter related felony exercise.”
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