Loan firm accused of threatening customers

Last updated 14:44 17/01/2014

Relevant offers

Money

Banks behaving badly, and how to fight back Economy expected to grow strongly in 2017 as confidence overcomes quakes The truth about inequality in New Zealand Owner pleased after historic yacht with $1 reserve sells for $480,000 Businessman tied to ACC bribery in 'dire financial position' Rob Stock: You have a secret cash source Karen Scott-Howman: Customers drive banking innovation Budget Buster: How to nail your 2017 money goals How to survive a mid-life career crisis Left your cash at the ATM? You're paying the Vague Tax

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