A New Jersey man pleaded guilty in Oklahoma federal court to leading a theft ring that stole catalytic converters and sold them for more than $600 million to a refinery that extracted precious metals contained in the devices. Navin Khanna is the latest person to plead guilty in connection with the ring. Khanna said he sold converters to Dowa Metals & Mining, a subsidiary of Dowa Holdings, which is a component of the Nikkei 225 stock market index. Seized catalytic converters are shown in a 2022 photo provided by the Department of Homeland Security. Courtesy: Department of Homeland Security
A New Jersey man pleaded guilty in Oklahoma federal court to leading a massive theft ring that stole catalytic converters from vehicles and sold them for more than $600 million in total to a refinery that extracted