Loan firm accused of threatening customers

Last updated 14:44 17/01/2014

Relevant offers

Money

Only 1 in 3 power customers seek to switch Personal finance: Securing the card you 'rent' Auckland property prices up 13pc: QV Personal finance: Rate rises are starting to hurt Graeme Hart slips a place on Forbes rich list, Bill Gates tops Petrol prices rise 2c a litre again Electricity prices to get a trim in Wellington Aussie market hot property for Kiwi homehunters Personal finance: Smoothing the bumpy ride What are KiwiSaver's financial hardship rules?

A South Auckland loan company forced people to repay their loans by threatening them with weapons, police say.

Gavin John Marsich, 54, appeared in the Manukau District Court today charged with possession of an offensive weapon.

It is alleged that Marsich, who owns Pay Day Loans, also known as 20/50 Loans, and others used offensive weapons to enforce any noncompliance with the loan terms, including a seven-day repayment window.

Police believe most victims will be from Manurewa and the wider South Auckland community.

Pay Day Loans offers small cash loans, targeting the lower socio-economic demographic of the district.

Police are seeking information from anyone who may have come into contact with Marsich's business.

"The alleged behaviour is unacceptable," Detective Senior Sergeant Dave Pizzini said. "We need people to come forward - any information from the public will assist."

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content