The dust goes to the refiner and is turned back into metals, what happens to those metals? They make more catalytic converters. There's some chance the actual PGM's in your catalytic converter came from a stolen catalytic converter. So Evan, what is the answer here? You said that legitimate catalytic converter recyclers want the shady side of the business to be shut down. But is there an answer to fixing this problem? There's not a great answer.
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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