In a stunning revelation, three members of a Californian family have pled guilty to conspiracy charges for their involvement in a massive ring that illegally shipped stolen catalytic converters worth $600 million from California to New Jersey, according to federal prosecutors. The guilty parties, consisting of brothers Tou Sue Vang, aged 32, and Andrew Vang, aged 28, as well as their mother, Monica Moua, aged 58, were part of a “nationwide network of thieves, dealers, and processors”, delivering the stolen anti-smog devices to a metal refinery in exchange for a staggering $600 million, as stated by the US attorney’s office. The case has seen a total of 21 individuals from California and New Jersey charged with crimes. The three members of the Sacramento family admitted to conspiring to transport the devices, receiving over $38 million as compensation for their actions, according to the AP.
In addition to the conspiracy charges, Tou Sue Vang has also pled guilty to 39 counts of money laundering, according to prosecutors. Catalytic converters are highly susceptible to theft and contain precious metals such as platinum. The US attorney’s office noted that “some of these precious metals are more valuable per ounce than gold, and their value has been increasing in recent years.” The black-market price for catalytic converters can exceed $1,000 each. Federal prosecutors further revealed that California accounts for 37% of catalytic converter theft claims across the nation, with approximately 1,600 reported thefts occurring each month.
(Read more California stories.)
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