Federal agents raided the New Jersey mansion of a businessman allegedly involved in a nationwide stolen catalytic converter ring that brought in millions of dollars.
FBI, Homeland Security Investigations (HSI) and IRS agents searched the $1.7 million home on Bucks Mill Lane in Holmdel Wednesday afternoon, removing evidence and property — including one pricey item that required a tow truck. Federal investigators were seen towing a Ferrari from the home as the street was blocked off.
Law enforcement sources said the home and luxury vehicle are owned by Navin Khanna, the head of a firm called "DG Auto Parts" which is allegedly linked to the nationwide auto parts theft ring. Agents said DG Auto was among the operations across the U.S. accused of buying, and then re-selling, stolen parts.
A federal indictment stated that Khanna’s business was accepting stolen parts shipped from California, with more than $38 million in stolen items. Investigators said DG Auto refused to accept any stolen parts that had markings making them traceable because they feared "they would shut us down."
Calls to the business seeking comment were not immediately returned. A Wrightstown business called Blacey's, which law enforcement sources said is connected to DG Auto, was also searched on Wednesday.
Get Tri-state area news delivered to your inbox. Sign up for NBC New York's News Headlines newsletter.
An Instagram account linked to Khanna shows luxury cars — like the ones seized on Wednesday — and a necklace in the shape of a catalytic converter.
News
Khanna is being charged out of California. Authorities nationwide are expecting more than half a billion dollars in forfeitures from the coordinated takedown carried out. The Department of Justice said searches and seizures took place in nine states, including New Jersey and New York, with 21 people arrested and charged in all.
"This national network of criminals hurt victims across the country,” said FBI Director Christopher Wray. “They made hundreds of millions of dollars in the process — on the backs of thousands of innocent car owners."
A total of six people in Newark and two more in New York were arrested. Federal agents confiscated more than 200 pallets of catalytic converters, more than $2 million worth of exotic automobiles, more than $1 million cash, 29 ounces of gold bars, jewelry and several luxury handbags, according to the HSI Newark Field Office.
Catalytic converter thefts have increased dramatically since the start of the pandemic, with twelve times as many robberies in 2021 as compared to 2019.
