The company is not accused of any wrongdoing. Its name was redacted in the indictments and prosecutors refer to it only as an unindicted co-conspirator. The legal recyclers are also looking for a way to kind of get this out of the supply chain stream. But it's extremely difficult to do. It's a very strange criminal circumstance.
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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