A crew accused of stealing more than 470 catalytic converters in Massachusetts and New Hampshire has been arrested.
The United States Attorney’s Office in Boston made the announcement Wednesday morning. More details will be revealed at a news conference at 11 a.m.
The FBI Boston’s Organized Crime Task Force and Massachusetts State Police made the arrests.
Investigators said the thefts led to estimated losses of $2 million between 2022 and 2023.
Replacing the stolen converters can cost drivers hundreds of dollars.
Catalytic converters are very valuable on the black market because they’re made using rare metals, including palladium, which is more expensive than gold.
Last year, WBZ-TV’s I-Team found that catalytic converter thefts have risen in several cities and towns. Because most of palladium is mined in Russia, the war in Ukraine is driving the price of the metal even higher.
Source : CBS News
