Abacus: Small Enough to Jail

Jul 7 2017 Not Rated 1h 28m
Documentary

The incredible saga of the Chinese immigrant Sung family, owners of Abacus Federal Savings of Chinatown, New York. Accused of mortgage fraud by Manhattan District Attorney Cyrus R. Vance, Jr., Abacus becomes the only U.S. bank to face criminal charges in the wake of the 2008 financial crisis. 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.

Plot

After the 2008 financial crisis that nearly destroyed the world economy, none of the American financial institutions faced prosecutions for their shady dealings that contributed to this debacle, except one. Abacus Federal Savings Bank, a small Chinese-American bank that catered to the neglected market of their community, was indicted on fraud charges and loan falsifications. As the bank disputed these accusations, many in the mainstream news media noticed that far larger competitors appeared to have committed similar misdeeds without legal consequence; likely because they were "too big to fail." This film explores the history of Abacus and its legal battle for survival against this hypocritical, and likely racist, application of the law that seemed to determined to punish them as a scapegoat for crimes that much larger felons deserve to face.

Written by

N/A

Directed by

Steve James

Production Countries

United States of America

Production Companies

Kartemquin Films, Motto Pictures, Corporation for Public Broadcasting, Frontline, ITVS

Languages

English

Awards

Nominated for 1 Oscar. 7 wins & 12 nominations total

Scores
# of Votes
2,969
Average Rating
7.1 out of 10
Metascore
73
Popularity
NA