Loan firm accused of threatening customers

Last updated 14:44 17/01/2014

Relevant offers

Money

Mortgage mistakes you should avoid NZ house prices among world's highest Ten-year ban for couple sentenced for fraud Beware of money leaks Banks win the KiwiSaver war Going underground the DIY way Face Value: MP's financial goals are simple The Paleo guide to budgeting Don't gigabyte more than you can chew Sellers swap TradeMe for Facebook

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