Abacus: Small Enough to Jail
Frontline · Season 2017 · Episode 13
Following the 2008 financial crisis, the only U.S. bank to face criminal charges was Abacus Federal Savings Bank, the first Chinese-owned bank in New York's Chinatown. Founded by immigrant Thomas Sung in 1984 and now run by him and his American-born daughters, the bank was accused of mortgage fraud in a legal battle that spanned five years costing them $10 million. From acclaimed director Steve James, the little-known story of the only U.S. bank prosecuted in relation to the 2008 financial crisis. Now an Academy Award nominee for Best Documentary Feature.
Episode Details
Air date, runtime, timezone, and episode position.
Season
2017
Episode
13
Air Date
12/Sep/2017
Air Time
22:00
Runtime
90 min
Overview
Episode summary.
Following the 2008 financial crisis, the only U.S. bank to face criminal charges was Abacus Federal Savings Bank, the first Chinese-owned bank in New York's Chinatown. Founded by immigrant Thomas Sung in 1984 and now run by him and his American-born daughters, the bank was accused of mortgage fraud in a legal battle that spanned five years costing them $10 million. From acclaimed director Steve James, the little-known story of the only U.S. bank prosecuted in relation to the 2008 financial crisis. Now an Academy Award nominee for Best Documentary Feature.
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