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Truck shop trio admit charges

NZ NewswireNZ Newswire 14/04/2016

Three truck shop operators have admitted charges brought by the Commerce Commission after its year-long probe into the industry.

The three mobile traders are the first businesses to be prosecuted by the commission under tougher laws for lenders which were introduced last year.

Goodring Company, Betterlife Corporation, and Ace Marketing failed to provide their customers with the legally required credit contract information in a clear and concise way.

Goodring admitted 30 charges, while Ace Marketing and Betterlife pleaded guilty to nine and six charges respectively under the same law.

Goodring faces two other charges as a financial services provider while Ace Marketing also faces 19 charges for misleading borrowers about their rights.

The commission said Goodring had sold $159 hoodies well above their retail price and one buyer had paid $2400 for a $600 iPhone.

Just one of the 32 mobile traders investigated by the commission managed to meet all of its legal obligations.

Last month another mobile trader, Flexi Buy, was fined $50,000 under a different part of the law for failing to tell customers about repayments. It had sold electronic goods around the North Island but is no longer operating.

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