A loan shark who targeted people at SkyCity Casino and charged exorbitant interest rates is banned from lending.
Yuan Rong Yang has been lending for 17 years, and has been fined $22,500 after appearing today in Auckland District Court.
Judge Mary Sharp described him as an "unscrupulous lender", ordering him to pay an additional $3000 to the complainant.
The complainant had been charged an annual interest rate equating to 260 percent, owing Yang $15,000 and $870 per week in interest.
Yang admitted to personally loaning money to seven customers, without documentation, often lending to members of the Chinese community.
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