Abacus: Small Enough to Jail

Name: Abacus: Small Enough to Jail
Uploaded: 2016
Duration: 21 min
Description: December 20, 2019 – This week, New Mexico in Focus speaks with Vera and Chanterelle Sung, whose family owns the Abacus Federal Savings Bank in Manhattan. After the financial collapse a decade ago, relatively tiny Abacus was the only bank to face criminal sanctions. The bank self-reported suspected violations to the authorities, then was stunned by the prosecution that followed.

201621 minHD★ 7.9Crime & Justice

December 20, 2019 – This week, New Mexico in Focus speaks with Vera and Chanterelle Sung, whose family owns the Abacus Federal Savings Bank in Manhattan. After the financial collapse a decade ago, relatively tiny Abacus was the only bank to face criminal sanctions. The bank self-reported suspected violations to the authorities, then was stunned by the prosecution that followed.

Courtesy of New Mexico In Focus, a Production of NMPBS on YouTube. Watch on YouTube ↗

bankfinancial crisisChinatownNew Yorkjustice