- Associated Press - Friday, March 18, 2016

BOSTON (AP) - An online auto title lender based on a remote South Pacific island that charges triple-digit interest rates has been ordered to stop doing business in Massachusetts.

Attorney General Maura Healey announced Friday that a judge has issued a preliminary injunction barring Liquidation LLC from making and collecting on loans.

Healey says the company, which uses several names, preys on financially-desperate consumers by providing vehicle title loans, often seizing and selling vehicles when owners default.

She says the company is not licensed to do business in the state and has victimized more than 200 Massachusetts consumers with interest rates as high as 619 percent.

Authorities say Liquidation also required consumers to install GPS devices to make vehicles easier to repossess.

A working number for Cook Islands-based Liquidation could not be located.

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