$250,000 worth of stolen catalytic converters found in man’s home, AZ officials say

A man was found with 350 stolen catalytic converters on his property in Arizona, officials say.

A 39-year-old Prescott man was arrested after authorities seized the catalytic converters, which were estimated to be worth $250,000, according to a news release by the Arizona Department of Public Safety. Detectives say he was involved in selling the stolen catalytic converters over the past 18 months.

According to the news release, the man was indicted on charges of fraudulent scheme, trafficking stolen property and money laundering on Sept. 16.

Arizona has seen catalytic converter thefts spike since 2019, according to AZ Central. The state saw a jump from 142 thefts in 2020 to 2,046 in 2021.

A catalytic converter is a part of a car’s emission system, found between the engine and muffler, that reduces the amount of pollution that comes out of the back of the car, according to CarFax.

Catalytic converters are often stolen because they’re in such high demand from repair shops where car owners are looking to save on replacements, according to CarFax.

The metals that are inside this car part can also sell for a hefty price.

“It’s platinum, palladium, and rhodium. You have platinum for around $800 or $900 an ounce. You have palladium for around $2,200 an ounce. You have rhodium that’s $18 to $20,000 an ounce, “ scrap shop owner Dennis Laviage of C&D Scrap Metal told KTRK.

Arizona Gov. Dough Ducey signed a bill this year, making it illegal to solicit a used catalytic converter or to purchase the metal parts of the converter unless they are being used to install a new catalytic converter.

Prescott is about 100 miles north of Phoenix.

This story was originally published September 21, 2022 at 1:25 PM with the headline "$250,000 worth of stolen catalytic converters found in man’s home, AZ officials say."