PHILADELPHIA (KYW Newsradio) — Officials in Bucks County have put an end to a multimillion-dollar catalytic converter theft ring after a nearly year long investigation. They say a Philadelphia towing company is at the center.
A catalytic converter is part of a car’s exhaust system that mitigates pollution. Catalytic converters contain precious metals, and thieves are known to steal them to resell.
“The market prices for these three main metals in the catalytic converters — and they are rhodium, platinum and palladium — increased dramatically during the pandemic because of supply chain issues, what else?” said Bucks County District Attorney Matt Weintraub.
Over the last few years, thousands of catalytic converters were stolen from vehicles in Bucks County, Weintraub said. And an investigation shows TDI Towing out of Philadelphia purchased and sold more than 25,000 stolen converters.
“They purchased, on average, 175 catalytic converters a week,” Weintraub said.
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He adds this was not a case of the employees running rogue. It was a group effort by the workers and their boss, owner Michael Williams, 52, of Philadelphia. Weintraub says Williams was the kingpin of the operation. He is currently out on bail and has waived his preliminary hearing.
“He is cooperating with this investigation, candidly, because we had him red-handed,” Weintraub said.
Ten adults, one juvenile and a corporation are charged with corrupt organization, dealing in proceeds of unlawful activity, criminal conspiracy, and theft of catalytic converters, which is its own unique charge.
The thefts were not limited to Bucks, Weintraub said. They hit a number of counties across the region. And there are additional people involved who are yet to be charged.
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