Commerce Commission files charges against Ilaisaane Malupo of Nane Loans and alleges illegal lending targeting Tongan community

An Auckland woman accused of acting as an illegal lender and alleged to have targeted the Tongan community with 15% weekly interest rates is facing court action.

The Commerce Commission filed charges in the Auckland District Court against Ilaisaane Malupo, who traded under the name Nane Easy Loan Finance Services NZ (Nane Loans).

Malupo’s alleged offending stretched back to March 2024, the commission claimed. If found guilty, the combined maximum penalties for her charges add to $200,000 in fines and 12 months’ jail.

The commission has accused Malupo of targeting “vulnerable” consumers, charging 15% interest a week, and of doubling that rate if borrowers failed to repay their loans within 28 days. The commission also accused Malupo of charging late payment fees of $10 a day.

“In order to keep up with payments, some borrowers resorted to selling their sentimental possessions or missing rent payments,” associate commissioner Joseph Liava’a said.

“Often, these kinds of lenders are a last resort for people who are struggling to borrow from reputable lenders.

“Many people who borrowed from Ms Malupo were already under financial pressure and on low incomes, so irresponsible lending could have had a big impact on borrowers and their families.”

“Some of the borrowers indicated they needed to borrow money to buy food or pay off other loans.”

The commission also accused Malupo of threatening to “name and shame” borrowers who failed to repay their debt on her social media webpages and on Tongan media sites.

Malupo ran Nane Loans on social media, and the commission accused her of using her platforms to threaten borrowers until full repayments were made.

“Public shaming is never okay and could put borrowers in a vulnerable position to avoid being called out for their friends and family to see,” Liava’a said.

Malupo was not a registered or certified lender, the commission said. The Financial Service Providers (Registration and Dispute Resolution) Act, along with the Credit Contract and Consumer Finance Act, requires all lenders to be registered and certified to be able to provide consumer credit.

Liava’a said the commission was ensuring consumers were protected while borrowing money or buying goods on credit, and would act quickly whenever it identified lenders operating outside the law.

He said the commission would prioritise enforcement action against lenders shirking their obligations under relevant legislation, and had a particular focus on lenders providing for vulnerable consumers.

The commission said it was continuing to investigate Malupo, but charges had been laid early to stop her from entering new loans or enforcing existing ones.

Raphael Franks is an Auckland-based reporter who covers business, breaking news and local stories from Tāmaki Makaurau. He joined the Herald as a Te Rito cadet in 2022.

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