> > 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.
> 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.