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$600 Million Catalytic Converter Theft Ring Leader BustedA New Jersey man who led a $600 million catalytic converter theft ring pled guilty in federal court to several criminal charges. He will be doing hard time in federal prison for his crimes, as will his accomplices, plus all the money and cool stuff he bought from stealing has been forfeited.
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The theft ring operated out of New Jersey but had thieves stealing catalytic converters from cars in multiple states like Oklahoma and Texas. Thousands of catalytic converters were cut off cars, then sold them to a metal refinery. If yours was swiped, it’s possible these guys were responsible.
According to the Department of Justice, 41-year-old Navin Khanna got the plea bargain contingent on his forfeiting almost $4 million in cash, real estate, expensive jewelry, gold bars, plus 11 luxury cars that include Ferraris, a McLaren, a Porsche, a BMW M3, A Ford F-650, and two Mercedes-AMGs.
He also had over 200 pallets worth of catalytic converters, which have a ridiculous value.
Khanna allegedly made over $600 million dealing in stolen catalytic converters.
The man’s accomplices in the theft ring, who are co-defendents in the case, have agreed to forfeit over $3.2 million in cash, real estate, cars, and catalytic converters in their possession when law enforcement executed search warrants.
After pleading guilty to one count of conspiracy to receive, possess, and dispose of stolen goods in interstate commerce and five counts of money laundering, Khanna is facing up to 168 to 210 months in federal prison for his crimes.
“Khanna’s theft ring took advantage of hard-working citizens in the Northern District of Oklahoma by stealing catalytic converters, rendering the vehicle unusable,” said U.S. Attorney Clint Johnson for the Northern District of Oklahoma. “I would like to thank the Tulsa Police Department and our law enforcement partners for their tireless efforts in bringing this senseless crime to justice.”
Image via Department of Homeland Security
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