Navin Khanna, 42, Holmdel, New Jersey, pleaded guilty today to conspiracy to transport stolen property interstate, conspiracy to commit promotional money laundering, and interstate transportation of stolen property, U.S. Attorney Eric Grant announced.
According to court documents, between October 2019 and March 2024, Navin Khanna and his family members and co-conspirators operated DG Auto and purchased stolen catalytic converters from California and across the nation for more than $600 million. Ten other New Jersey residents and three California residents were charged in this nationwide investigation that dismantled a catalytic converter theft ring.
Catalytic converter theft has become prevalent across the nation because of their value, relative ease of stealing, and their lack of identifying markings. Thieves steal catalytic converters from vehicles on the street for the precious metals they contain, which may be more valuable per ounce than gold, and then sell them to buyers. The black-market price for certain catalytic converters from California, like the Toyota Prius, can be more than $1,200 each.
