![]() ![]() The ordeal began when Jill Sung, CEO of the bank founded by her father Thomas Sung, noticed an anomaly in the bank’s loan department and discovered one of the bank’s lower-level employees had been falsifying mortgage applications.ĭid they cover it up and skate with a simple fine like all the big banks did? No. In 2012, in the aftermath of the crippling 2008 mortgage crisis that sent the United States and world economies into a devastating tailspin for half a decade, New York District Attorney Cyrus Vance filed multiple charges of fraud against Abacus Federal Savings Bank, a small, privately owned bank that served New York’s Chinatown community. ![]() Movie City News called it “one of the best documentaries in recent years,” while The Hollywood Reporter asserted it was “both an affirmation and an indictment of the American Dream.” It won best documentary from the Critics Choice and the National Board of Review Awards. Though it lost to Bryan Fogel’s “Icarus” in the Oscars competition, this small story has had big impact. The Academy Award-winning director Steve James, best known for “Hoop Dreams,” told Xinhua in a recent exclusive interview, “I gravitated toward documentaries because I wanted to tell true stories about people in pivotal situations, at a crossroads in their lives. mortgage crisis that triggered a financial crisis worldwide. It’s a film about a tiny Chinese-American community bank indicted for fraud during the 2008 U.S. Academy of Motion Picture Arts and Sciences announced its nominees for its 90th Oscar awards given on March 4, their line-up for best documentary feature included “Abacus: Small Enough to Jail.” Oscar-nominated documentary tells true story about Chinese immigrants ![]()
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