A man will spend more than two years in jail for charges related to his participation in a $12 million multi-state catalytic converter theft operation.
Theodore Nicholas Papouloglou, 45, was sentenced to two years and three months in prison for his role in the operation and associated tax crimes. He pled guilty on Aug. 20, 2024. As part of his plea, he must forfeit eight vehicles associated with the crime.
Catalytic converters, which reduce toxic gas and pollutants from a vehicle’s exhaust system, use precious metals in their centers and are regularly targeted for theft due to the high value of these metals, especially palladium, platinum and rhodium.
According to court documents, Papouloglou, a North Carolina scrap metal dealer, used an Emporia auto business to purchase stolen catalytic converters and facilitate bulk cash payments.
Papouloglou used his business, DG Auto South, to purchase the stolen goods for shipment of the metals to Japan.
In 2020 and 2021, Papouloglou received more than $12 million in wired payments from his co-conspirators in New Jersey.
Papouloglou spent the money he received on personal expenses including real estate, a luxury motorcycle for his girlfriend and to gamble at casinos in Las Vegas.
Papouloglou helped his co-conspirators in New Jersey purchase stolen converters from other sellers in Texas and Oklahoma by facilitating bulk cash payments. The total value of the funds that Papouloglou illicitly transferred was at least $6.6 million.
Despite realizing income from DG Auto South, Papouloglou also paid no taxes in 2020 or 2021.
The forfeited vehicles include:
- 2021 Ford F250 Roush
- 2021 Jeep Gladiator Sport Apocalypse
- 2017 Lamborghini Huracan convertible
- 2020 McLaren 720s convertible
- 2021 Mercedes-AMG G63
- 2019 Ferrari 488 Pista
- 2021 McLaren 765LT
- 2021 Ford F450 Super Duty
Related stories
- Virginia business owner guilty in $12 million multi-state catalytic converter theft ring
- Richmond man pleads guilty to armed robbery; meetup victim wanted to buy catalytic converter
- New laws in Virginia add ‘teeth’ to punishment for catalytic converter thefts, sales
- Augusta County authorities investigating attempted catalytic converter theft
- Augusta County authorities investigating catalytic converter larceny
Support AFP
Share
Crystal Graham
