![]() She and her sisters Jill and Vera will visit Princeton and after the movie, serve on a Q&A panel moderated by Professor Beth Lew-Williams and Joyce Chen Shueh '96. Of the four Sung sisters, three were trained as lawyers, the fourth a physician - including Jill Sung, the bank’s chief executive, and Vera Sung, a director of the bank - and Chanterelle ‘00 who ironically once worked in the district attorney’s office that prosecuted the case. Thomas Sung was walking to lunch recently at the Peking Duck House, one of his favorite Chinatown restaurants, a couple of blocks from the main office of Abacus Bank, the community institution he. The indictment and subsequent trial forces the Sung family to defend themselves – and their bank’s legacy in the Chinatown community – over the course of a five-year legal battle."Ĭhanterelle Sung '00 plays herself in this Oscar nominated documentary. bank to face criminal charges in the wake of the 2008 financial crisis. ![]() Abacus was and is a bank located in the Chinatown neighborhood of New York City. Case leaves scar in Chinatown and 10 million legal bill for local institution. This small, family-run community bank based in NYC's Chinatown, catering primarily to Chinese immigrants, never invested in the mortgage-backed securities nor. In 2012, Abacus Federal Savings Bank was indicted on charges of fraud in relation to hundreds of. economic disaster since the Great Depression, resulted in the criminal prosecution of just one, singular bank: Abacus Federal Savings Bank. But that wasnt the case for a small, family-owned bank tucked inside Chinatown in New York City. The Bank operates seven branches across New York City, New Jersey, and Pennsylvania, and primarily serves the Chinese-American community. It tells the story of the federal prosecution of Abacus Federal Savings Bank. Author(s): Chung, Chloe Abstract: The 2008 financial crisis, described as the worst U.S. ![]() Accused of mortgage fraud by Manhattan District Attorney Cyrus R. ABACUS is a federally-chartered deposit and lending institution headquartered at 6 Bowery Street in Chinatown. Abacus Federal Savings Bank, a small bank with a major presence in New York City’s Chinese community, and 19 of its former employees have been charged with. Where: Princeton University, Whitman College Theatreįrom Steve James - Director of Hoop Dreams and Life ItselfĪBACUS: small enough to jail tells the incredible saga of the Chinese immigrant Sung family, owners of Abacus Federal Savings of Chinatown, New York. ![]() 2018 ACADEMY AWARD® NOMINEE - BEST DOCUMENTARY FEATURE ![]()
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