A North Carolina man pled guilty to his participation in a multi-state catalytic converter theft ring operated through his business in Emporia.
Theodore Nicholas Papouloglou, 45, aa scrap metal dealer, used his business, DG Auto, to purchase stolen catalytic converters from thieves.
According to court documents, dating back to 2020, Papouloglou received more than $12.2 million in wired payments from his co-conspirators in New Jersey. The stolen catalytic converters were transported to New Jersey and then delivered to Japan.
Papouloglou shelped his co-conspirators in New Jersey purchase stolen catalytic 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.
Papouloglou spent the money he received from DG Auto South on personal expenses, such as purchasing real estate and a luxury motorcycle for his girlfriend and to gamble at casinos in Las Vegas.
Despite realizing income from DG Auto South, Papouloglou paid no taxes in 2020 and 2021.
Law enforcement seized and Papouloglou agreed to forfeit various vehicles associated with the offense:
- 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
Catalytic converters are regularly targeted for theft due to the high value of the metals including palladium, platinum and rhodium. Some of the metals are more valuable per ounce than gold, and the black-market price for catalytic converters can be above $1,000.
According to law enforcement, a catalytic converter can be stolen from an automobile undercarriage in less than a minute.
Papouloglou is scheduled to be sentenced on Feb. 20, 2025. He faces a maximum penalty of 10 years in prison.
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Crystal Graham
