Ilaisaane Malupo, trading as “Nane Easy Loan Finance Services NZ”, faces court action for allegedly operating as an unregistered lender targeting Auckland’s Tongan community with exploitative loan terms.
The Commerce Commission has charged her with issuing loans at 15% weekly interest, doubling the rate after 28 days, charging $10 daily late fees, and publicly threatening to shame non-paying borrowers on social media.
Many clients were already under financial strain and resorted to selling belongings or missing rent to repay loans. If convicted, Malupo faces up to $200,000 in fines and 12 months’ jail.
Investigations are ongoing.
Image credit: Towfiqu Barbhuiya
With a name like ILAISAANE MALUPO, is that a Tongan name? If so, then she is an absolute dog for targeting her own vulnerable countrymen.