New York City's Abacus Federal Savings Bank is owned by the Sung family, a Chinese immigrant family from Hong Kong. Abacus, the only U.S. bank to face criminal charges in the wake of the 2008 financial crisis, has been accused of mortgage fraud by Manhattan District Attorney Cyrus R. Vance, Jr. The Sung family is forced to defend themselves and their bank's history in the Chinatown neighborhood throughout the course of a five-year legal battle following the indictment and subsequent trial.
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New York City's Abacus Federal Savings Bank is owned by the Sung family, a Chinese immigrant family from Hong Kong. Abacus, the only U.S. bank to face criminal charges in the wake of the 2008 financial crisis, has been accused of mortgage fraud by Manhattan District Attorney Cyrus R. Vance, Jr. The Sung family is forced to defend themselves and their bank's history in the Chinatown neighborhood throughout the course of a five-year legal battle following the indictment and subsequent trial.
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