Gloria Borger: Cops are tracing up the chain from Tulsa to New Jersey. She says they found a company called DG Auto, which was operated by two brothers. They were selling catalytic converters and also had an app where you could price them, she says. Borger: This is where the money gets really big; we're talking $545 million alleged in three years.
Catalytic converters are a vital part of emissions reduction in gas-powered vehicles. But that’s not why they’ve been making headlines. Thieves across the US have been sawing them off cars because they contain precious metals like platinum, palladium and rhodium. Bloomberg Businessweek contributor Evan Ratliff is here to tell the tale of a $500 million catalytic converter theft ring—and how local police departments and federal law enforcement brought it down.
Read more: How Cops Cracked a $500 Million Catalytic Converter Crime Ring
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