This chapter explores the rampant theft of catalytic converters and the valuable metals they contain. It discusses the increased value of catalytic converters during the pandemic, leading to an investigation into the global supply chain of stolen converters. The chapter follows the development of this investigation, including a significant traffic stop and the discovery of a larger network involved in the illegal trade.
We're taking a break this week, here's an episode you might have missed.
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
Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK
Have questions or comments for the team? Reach us at bigtake@bloomberg.net.
This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers Michael Falero and Mo Barrow. Sound Design/Engineer: Raphael Amsili.
See omnystudio.com/listener for privacy information.