Source | Crains |
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Original Load Date | July 19, 2019, 3:01 p.m. |
Last Updated | July 19, 2019, 3:01 p.m. |
Original URL | http://www.chicagobusiness.com/news/used-car-lenders-meltdown-creates-huge-loss-old-line-chicago-private-equity-firm |
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In the mid-1990s, James Collins was senior vice president of sales at Lake
Forest-based Mercury Finance, then a high-flying lender to subprime buyers of
used cars that [ crashed and burned ][17] in 1998 amid fraudulent financials
that later sent its CEO to prison for a decade.
Collins bounced back ...