Finance
A Hedge Fund Billionaire’s Cash Helped Fund a ‘Predatory’ Lender
One man started a cash-advance company. The other was a retired investing legend. A private credit fund had what both were looking for.
Leon Cooperman at home in Boca Raton, Florida, in 2022.
Photographer: Scott McIntyre/for Getty Images/The Washington Post
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The two men come from the opposite ends of Wall Street.
David Glass inspired the stock-scam movie Boiler Room, avoided prison in an insider-trading case by wearing a wire, then started a boiler room of his own. His company stands accused of ripping off small businesses on an industrial scale, collecting more than $1 billion of illegal interest over a decade.