Fox News Flash top headlines for October 16
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- Two brothers and their mother, of Sacramento, California, have pleaded guilty to conspiracy in a nationwide catalytic converter theft scheme.
- In the scheme, $600 million worth of stolen catalytic converters, which contain precious metals that are sometimes considered more valuable than gold, were shipped from California to New Jersey.
- Tou Sue Vang, Andrew Vang, and Monica Moua received $38 million for transporting the devices.
Three members of a California family pleaded guilty Monday to conspiracy for their role in a ring that shipped $600 million worth of stolen catalytic converters from California to New Jersey, federal prosecutors said.
Brothers Tou Sue Vang, 32, and Andrew Vang, 28, along with their mother, Monica Moua, 58, were part of "a national network of thieves, dealers, and processors" who provided the stolen auto anti-smog devices to a metal refinery for more than $600 million, according to a statement from the U.S. attorney's office.
Twenty-one people from California and New Jersey have been charged in the case, prosecutors said. The three Sacramento family members pleaded guilty to conspiring to transport the devices in return for more than $38 million.
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Three members of a Sacramento, California, family have pleaded guilty to transporting stolen catalytic converters in a $600 million scheme. (Fox News)
Tou Sue Vang also pleaded guilty to 39 charges related to money laundering, prosecutors said.
Catalytic converters are easily stolen and contain precious metals including platinum.
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"Some of these precious metals are more valuable per ounce than gold, and their value has been increasing in recent years," the U.S. attorney's office said. "The black-market price for catalytic converters can be above $1,000 each."
California accounts for 37% of catalytic converter theft claims nationwide, with about 1,600 reported stolen each month, federal prosecutors said.
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