This is a great question!

I think that the best answer is that as long as all three persons are still around and are identified, then the car must be returned to its original owner. Furthermore, the person who stole the car must also pay damages to the original owner. If the person who bought the stolen car did so in good faith (without any reason to believe that it had been stolen), then the thief must return the money plus damages to him as well. The fault lies entirely on the shoulders of the thief-fraudster.

The situation is different however if the original owner is no longer around or cannot be identified. Then there is nobody to return it to. Similarly, if the thief-fraudster is not identified. And if whoever has it now bought it in good faith, then taking it away from that person now is unjust.