Our 2017 Quattrone Exoneree Fellows were Vera, Jill, Chantrelle and Thomas Sung.
Abacus Federal Saving Bank was founding in 1984 by Thomas Sung to serve the Asian American and Asian immigrant population of New York City. In 2012 the bank and 19 of its employees, including Thomas Sunga and his daughters Vera, Jill and Chantrelle, were indicted for mortgage fraud by Manhattan District Attorney Cyrus R. Vance, Jr. Abacus was the only U.S. bank to face criminal charges in the wake of the 2008 financial crisis. The indictment and subsequent trial forced the Sung family to defend themselves – and their bank’s legacy in the Chinatown community – culminating in their acquittal and exoneration in 2015.
In 2017 the Quattrone Center invited the Sung family to a panel discussion and screened the provocative and well-received documentary about their ordeal Abacus: Small Enough to Jail from acclaimed director Steve James (Hoop Dreams, The Interrupters, Life Itself). You can read about the film and the Sung family here