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Longboat Key Tuesday, Jan. 23, 2018 2 years ago

Documentary about Tom Sung gets Oscar nod

The film is nominated for “Best Documentary Feature."
by: Katie Johns Community Editor

Longboat Key resident Tom Sung is heading to the Oscars. Well, the movie about him is, anyway.

“Abacus: Small Enough to Jail,” a documentary about Sung, was nominated for “Best Documentary Feature” in this year’s Academy Awards competition. The 2018 nominees were announced Tuesday, Jan. 23.

Sung is the founder of Abacus Federal Savings in Chinatown, New York. In 2010, Manhattan prosecutors charged the bank and 11 former employees with mortgage fraud, calling it “systemic and pervasive.” Sung fought back. And after five years, $10 million and a lengthy trial, a New York City jury dismissed all the charges.

Abacus became the only U.S. bank to face criminal charges in the wake of the 2008 financial crisis, the documentary’s website said.

The Academy Awards will be presented March 4.

Read about the film here.

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