Update on The Plastic Merchant – Missouri AG Not Pursuing Legal Action
Last year we broke the terrible news that The Plastic Merchant was bouncing checks and appeared to be insolvent. There was hope that TPM would bounce back since they had had payment issues in the past as well and still made everyone whole. TPM responded to our article and our attempt to reach out by sending an email to all sellers that Mike fell ill causing issues with payments and that things would be figured out soon. They then went silent never to be heard from again.
Update and AG Response
This was a hot topic in our Facebook Reselling group and people would offer updates along the way. A little while ago a Facebook Group member shared a link to the letter the Missouri AG sent out in response to people’s complaints. It included The Plastic Merchant’s attorney’s response as well. You can find it at the bottom of this string of comments in our Facebook group. Thanks to Scott R for sharing it.
It seems to me that the Missouri AG did not feel that legal action was the way to go. I believe they thought it was more of an insolvency issue vs a criminal fraud case. They suggested contacting an attorney to discuss the possibility of a small claims lawsuit.
I know this is not what many of you wanted to hear. The whole situation is terrible and I know many of you lost money because of this, some a substantial amount. While there may still be an option of pursuing this in court civilly, the costs of that may outweigh any benefit received.
What are your thoughts on this latest TPM update?