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Payday lender, Twenty Fifty Club, found guilty in Manukau District Court

3 June 2016

Twenty Fifty Club Ltd and its sole director Gavin John Marsich were today found guilty of 16 charges each in Manukau District Court in relation to a payday loans business in South Auckland.

The Commission began investigating Twenty Fifty Club in December 2013 after receiving a complaint from the public. The resulting charges filed against Twenty Fifty Club and Mr Marisch are under the Fair Trading Act 1986 and the Credit Contracts and Consumer Finance Act 2003 (CCCFA).

These charges include: failing to disclose loan information to borrowers, charging unreasonable default and establishment fees, falsely claiming to be a registered financial services provider and a member of a dispute resolution scheme, and failing to supply information required by the Commission.

In finding Twenty Fifty Club has charged unreasonable fees to borrowers, Judge Moses applied the Supreme Court’s recent decision in MTF/Sportzone v Commerce Commission, and noted that consumer protection is a central purpose of the CCCFA.

 The case will be called on 12 August 2016 so a sentencing date can be allocated.

As this case is still before the court for sentencing, the Commission is unable to comment further.


A copy of the judgment will be available shortly on the Commission’s Enforcement Response Register shortly.

The Commission’s charges against Twenty Fifty Club and Mr Marsich in today’s judgment were separate to criminal charges brought by the Police against Mr Marsich. In August 2015 he was found guilty at a trial of possessing a knife in a public place after he held a meat cleaver while collecting an overdue loan. Mr Marsich was ordered to pay $800 emotional harm to the victim and $130 in court costs.