From acclaimed director Steve James (HOOP DREAMS, LIFE ITSELF), ABACUS: SMALL ENOUGH TO JAIL tells the incredible saga of the Chinese immigrant Sung family – owners of Abacus Federal Savings of Chinatown, New York – who are charged with fraud by Manhattan District Attorney Cyrus R Vance, Jr. in the wake of the 2008 financial crisis.
Institutions with vast holdings like JP Morgan Chase, Citigroup, Goldman Sachs, and HBSC, all participated in massive mortgage fraud that they plotted and maintained until the whole scheme fell apart in catastrophic fashion. And yet not a single one of these banks has ever been criminally indicted or prosecuted. In fact, the American taxpayers bailed out these banks because they were deemed “too-big-to-fail.”
Only one bank was ever prosecuted for mortgage fraud: Abacus Federal Savings Bank, a small bank serving the Chinese community. The indictment and subsequent trial forces the Sung family to defend themselves – and their bank's legacy in the Chinese community – over the course of a five-year legal battle. Shortlisted for 2017 Best Documentary Oscar™; Best Political Documentary – Critics Choice Awards