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  • Writer's pictureBy The Financial District

California Family Pleads Guilty In $600 Million Catalytic Converter Theft

Three members of a California family have pleaded guilty to conspiracy charges related to their involvement in a ring that trafficked stolen catalytic converters, with a total value of $600 million, from California to New Jersey, as reported by federal prosecutors, according to the Associated Press (AP).


Catalytic converters are susceptible to theft and contain valuable precious metals, including platinum.



The individuals involved are brothers Tou Sue Vang, aged 32, and Andrew Vang, aged 28, along with their mother, Monica Moua, aged 58.


They were part of a "national network of thieves, dealers, and processors" that supplied stolen automotive anti-smog devices to a metal refinery, generating over $600 million, as detailed in a statement from the US attorney's office.



Catalytic converters are susceptible to theft and contain valuable precious metals, including platinum.


The US attorney's office noted that "some of these precious metals are more valuable per ounce than gold, and their worth has been steadily rising in recent years." The black-market price for catalytic converters can exceed $1,000 each.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Prosecutors have charged a total of 21 individuals from California and New Jersey in connection with this case.


The three family members from Sacramento pleaded guilty to conspiring to transport these devices in exchange for more than $38 million. Additionally, Tou Sue Vang pleaded guilty to 39 charges related to money laundering, as disclosed by prosecutors.




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