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> > Defendants ... operated DG Auto... DG Auto sold the precious metal powders it processed from California and elsewhere to a metal refinery for over $545 mill
by ThePowerOfFuet 4y ago
> > Defendants ... operated DG Auto... DG Auto sold the precious metal powders it processed from California and elsewhere to a metal refinery for over $545 million.
> How did they make $545M in a racket whose upper limit on annual profit is a tenth of that? Perhaps that figure represents DG Auto's gross revenue, only a portion of which comes from recycling converters?
Because the converters themselves are only worth $1k each on the black market, but apparently quite a bit more if stripped and processed further, to bare precious metal powders, which are much easier to work with.
- ineptech 4y ago$1K was the high end, most of 'em cost less than that new.
- ThePowerOfFuet 4y agoThe police? Inflating the value of something associated with criminality so it sounds worse than it really is? It can't be. /s