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Securities Fraud, Kevin Pub, Adamson discussed on Pure Nonfiction: Inside Documentary Film - PN 49: Steve James From Hoop Dreams to Abacus

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Today we are announcing the indictment of nineteen individuals on charges including mortgage fraud securities fraud and conspiracy as well as the indictment of abacus federal savings bank federally chartered banks lisbon catering to the chinese immigrant community since 1984 if we have learned anything from the recent mortgage crisis it's that at some point these schemes unravel and taxpayers can be left holding the ban while the banks that were too big to fail got bailouts abacus was small enough to jail asian employees of the bank were arrested and paraded in a chain gang before tv cameras after the highly publicized arrest the story was scarcely covered outside the chineseamerican press but the sun family were adamant in defending themselves their lawyer kevin pub allow ski describes the odds they made a decision that they were not going to plead guilty to something that they didn't feel the bank we do beyond that is a courageous choice adamson's fence of choice the da's office has hundreds of lawyers took five years to do their grand jury investigations and it it is a daunting task to fight the government if you haven't seen the film i won't tell you how it turns out but one of its pleasures is to spend time with the sun family thomas has four daughters smart witty cosmopolitan new yorkers two of them jill and vera hold key positions at the bank the youngest sean terrell is a lawyer in the film we witness their interactions during the trial often in chinatown restaurants the family banter has an unexpected comedy.

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