The skyrocketing value of the precious metals inside catalytic converters has launched a massive black market industry where thieves are cashing in on a fairly unregulated world of buyers.
Records provided by police departments in Denver and Boulder show more than 4,000 catalytic converter thefts in the two cities since the beginning of 2021.In recent months, Denver7 has produced multiple reports exposing the growing concerns around catalytic convert theft. Several viewers responded asking where and how thieves can turn the metal from a car’s exhaust system into money.
To answer, members of the Denver7 Investigates team visited a variety of scrap yards and businesses in the Denver metro area, trying to better understand the buying process. Wearing hidden cameras, the Denver7 Investigates team went to more than six scrap yards and businesses that regularly purchase catalytic converters, finding many locations reticent to purchase the catalytic converters Denver7 obtained from a scrap yard to conduct this test.
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