Feds bust nationwide catalytic converter theft ring

The Department of Justice busted its first nationwide catalytic converter theft ring Wednesday following an investigation in over nine states. The Feds are now seeking $545 million for seized cars and luxury items.

Why not the whole car?
A catalytic converter, an anti-pollution part, contains valuable metals like platinum, palladium and rhodium. Since the pandemic, the costs of these metals saw a significant rise hiking the price for the converter itself.

Also, it is much easier to steal compared to the whole car.

According to the National Insurance Crime Bureau, catalytic converter thefts increased since the pandemic—from 1,298 in 2018 to 52,206 in 2021.