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Meat cleaver lender back in court

NZ NewswireNZ Newswire 3/06/2016

A lender once convicted of holding a meat cleaver while collecting on a loan has been pinged again, this time over the practices of his south Auckland lending scheme.

Gavin John Marsich and his business, Twenty Fifty Club, were on Friday found guilty of 16 charges each in the Manukau District Court following series of complaints about the payday loan business.

The charges included failing to disclose loan information to borrowers, charging unreasonable fees and falsely claiming to be a registered financial services provider among others.

But the case - which has been investigated since 2013 - isn't his first encounter with the law.

In August 2015 he was convicted of possessing a knife in a public place after holding a meat cleaver while collecting an overdue loan.

In that case he was ordered to pay $800 in emotional harm to the victim along with court costs, the Commerce Commission said.

Marsich will appear in court again in August to set a sentencing date.

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