An unregistered South Auckland lender who targeted members of the Tongan community with interest rates of up to 15% per week has been banned from the financial services industry for two years.
Ilaisaane Malupo, who traded as Nane Easy Loan Finance Services NZ, was also ordered to pay $15,000 in reparations to seven borrowers and complete 150 hours of community service when she was sentenced at Auckland District Court.
The Commerce Commission said Malupo had provided personal loans illegally despite repeated warnings that she needed to be registered and certified under the law.
Malupo, who operated her business on social media, had provided loans to borrowers in South Auckland from March 2024.
As well as the steep interest rates, the amount borrowers owed would double if they failed to repay within 28 days, with late fees of up to $10 per day also charged.
In some cases, Malupo threatened that borrowers who fell behind would be publicly exposed on Facebook or other Tongan media sites, the commission said.
Commerce Commission credit investigations and compliance head Simon Anderson said the case highlighted the harm caused by preying on people who could least afford it.
"On several occasions, we advised Ms Malupo of the legal requirement to become registered. Not only did she ignore this, she targeted people who could least afford the loans she was offering," he said.
"The distressing element of this case was that many of Ms Malupo's customers were already struggling financially when they came into contact with her.
"After taking out a loan, some would sell meaningful personal items or miss other essential payments, such as rent, to keep up with repayments."
When charges were laid, Commerce Commission associate commissioner Joseph Liava'a said the lender had often been a last resort for people already under financial pressure and on low incomes.
"Some of the borrowers indicated they needed to borrow money to buy food or pay off other loans," Liava'a said.
He said public shaming was "never OK and could put borrowers in a vulnerable position to avoid being called out for their friends and family to see".
Judge Sharp acknowledged the victim impact statements provided by affected borrowers, saying they illustrated the emotional and financial toll they had faced.
"There are persons who have suffered as a consequence of paying fees and interest that they shouldn't have had to pay," he said.
The reparations and community service represented a reduction from a starting point of approximately $50,000 in combined reparations and fines.
Judge Sharp noted the reduction recognised the need to balance the penalty against Malupo's lack of financial means to be able to pay.
Malupo had been charged in June 2025 with criminal offences under the Financial Service Providers (Registration and Dispute Resolution) Act for providing a financial service without being registered, and under the Commerce Act for attempting to deceive or knowingly mislead the commission.
The commission first launched its investigation after receiving complaints, including from a financial mentor, about Malupo's lending practices.
SHARE ME