This is The Hood. He is a super villain who is the leader of a large mob of other super villains in New York City. He doesn't spend that much time rivaling superheroes though, he spends more time moving contraband and fighting the police. Long story short, he has a cape thing possessed by a demon, and eventually he is permanently possessed by the demon. Like the hulk sort of... Here's the Wikipedia page.

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Anyways, I definitely enjoy the comics and recommend. Heres an image for those without the preview:

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