Local business owes customers thousands, blames credit card company

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by KMOV.com Staff

KMOV.com

Posted on January 20, 2014 at 11:44 PM

Updated Tuesday, Jan 21 at 7:44 AM

(KMOV.com) -- Last July, News 4 confronted the owners of Liberty Trading, a small Main Street business in Vandalia, Illinois.

Several customers claimed they purchased silver from Liberty through an online auction called Proxibid.

But after wiring huge sums of money, they got nothing.

The business is now closed and one of the owners, Sean Cook, says that’s based on advice from his attorneys.

Cooks says this isn’t his fault.

He blames a credit card processing company called Transfirst.

He says the company held money to process charge backs and it lead to the disaster he’s facing now.

Transfirst denied that claim.

Cook says there are 36 customers caught in this bind, and dollar amounts range from a few hundred on the low end to nearly $100,000 on the high end.

At the end of the day, Cook realizes it’s his responsibility to fix this mess.

“We’re hoping our attorneys can get us somewhere with the credit card company that’s one thing,” he said. “Another thing- liquidating assets that the shop had.”

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