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I owe you everything to George Bailey.
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Help him, dear father.
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Thomas Sung, voice-over:
The first time I saw
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"This Is a Great Life,"
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I really respect
for George Bailey,
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who is the main character.

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00:01:00,861 --> 00:01:03,662
He does many good things
for the community.

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00:01:03,664 --> 00:01:05,831
Mr. and Mrs. Martini,
Welcome to home.

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00:01:05,833 --> 00:01:07,199
Hurray!

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George lends
money to community members

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to buy a house...

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Me Giuseppe Martini...
I have my own house!

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00:01:15,309 --> 00:01:18,077
And that's exactly the same goal  when we start a bank.

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That's our motivation
to help many people,

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00:01:19,780 --> 00:01:23,082
many immigrants.

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This is you, George.
Merry Christmas!

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00:01:24,919 --> 00:01:28,053
Hwei Lin Sung, voice-over:
This film really touched me.

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00:01:28,055 --> 00:01:30,889
Family, friends.

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00:01:30,891 --> 00:01:33,959
I always watch it.
Every year, I watch.

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00:01:33,961 --> 00:01:36,795
That makes me cry
because that's the part...

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00:01:39,433 --> 00:01:41,800
Thomas, voice-over: I hope
this story can end

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00:01:44,604 --> 00:01:47,773
the same way
as "It & apos; s Wonderful Life"...

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00:01:47,775 --> 00:01:50,976
But in reality,
This is not that simple.

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Today, we
announce the charges

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00:02:02,789 --> 00:02:06,525
of 19 individuals

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00:02:06,527 --> 00:02:08,193
for fees including

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00:02:08,195 --> 00:02:09,194
mortgage fraud,

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00:02:09,196 --> 00:02:10,462
securities fraud,

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and conspiracy,

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and indictments

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00:02:14,468 --> 00:02:16,368
Abacus Federal Savings Bank,

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00:02:16,370 --> 00:02:18,504
federal charter banks
who are already catering

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to Chinese immigrants
community since 1984.

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If we learn something

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from the mortgage crisis recently,

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that which at a certain point
this scheme breaks down

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and taxpayers can be left
holding the bag.

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The D.A.
make it like that
a big parade,

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bring people from Washington,

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all of this is difficult
law enforcement officers,

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and make it like that
a big announcement

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that we are part of the cause

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financial crisis of 2008.

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Almost ridiculous.

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00:02:51,572 --> 00:02:54,273
Mr. Sung has the right
his opinion,

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00:02:54,275 --> 00:02:56,441
but in the loan section of Abacus,

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00:02:56,443 --> 00:02:59,912
the mortgage is based on
in fake documentation.

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00:02:59,914 --> 00:03:03,115
We have evidence of
conspiracy, theft,

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00:03:03,117 --> 00:03:05,017
and systemic fraud.

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If it's prosecution
passes,

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the bank will go
outside of business.

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There is no question about that.

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They will lose
their charter,

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00:03:17,031 --> 00:03:20,065
and that would be extraordinary
impact on the community.

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00:03:25,171 --> 00:03:28,507
Too big to fail, you know,
turns into small enough to go to jail,

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00:03:28,509 --> 00:03:31,376
and Abacus
are small enough to be imprisoned.

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00:04:02,041 --> 00:04:03,508
Thomas, voice-over: When I walk
here, of course,

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I feel very at home.

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Incidentally, this is a very delicious noodle shop

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if you go in there.

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I was born in Shanghai
in 1935.

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At the age of 16,
I emigrated to the United States

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and going to law school,
and I moved to Chinatown.

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00:04:35,175 --> 00:04:38,377
Not many
Chinese lawyers,

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00:04:38,379 --> 00:04:42,281
and I know I want to be like that
part of the community,

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00:04:42,283 --> 00:04:44,950
so I do a lot of pro Bono work.

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This... this building
with the Chinese national flag,

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this is the center of the Chinese community.

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And there...

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I represent the association
for years and years.

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This association is sponsored by
school,

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and I get
permanent charter

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from the education department.

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And people in that community,

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especially parents,
remember me,

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know what I have done.

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Back when I was a lawyer, I had no bank  which is owned by Chinese people
and serves Chinese people.

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This is
Chinatown, New York City,

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warm, colorful, cheerful,

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beautiful place
for sightseeing.

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00:06:02,329 --> 00:06:04,396


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This man is on his way to the bank.

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00:06:07,701 --> 00:06:11,203
What is it with banks that make our men feel at home?

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The design is very...
beautiful bright

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with the main Chinese color,

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and he sees the house
in a soft and sweet smile

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00:06:17,911 --> 00:06:19,444
from the cashier.

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00:06:19,446 --> 00:06:21,546
At that time,
bank in this community

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00:06:21,548 --> 00:06:25,751
has several hundred million
Chinese deposit dollars,

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00:06:25,753 --> 00:06:29,921
and I go to the bank
to try to borrow money,

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00:06:29,923 --> 00:06:31,990
but they don't lend money

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00:06:31,992 --> 00:06:34,726
and dealing with the community.

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He always tells us stories

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00:06:36,029 --> 00:06:37,863
that they are willing
to take their savings,

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00:06:37,865 --> 00:06:40,799
but they don't want to give him
credit, loan,

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00:06:40,801 --> 00:06:42,601
so that's why he
started a bank

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00:06:42,603 --> 00:06:44,035
because he feels it's unfair

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00:06:44,037 --> 00:06:45,837
to the community.

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00:06:45,839 --> 00:06:47,706
I remember
when we were children,

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00:06:47,708 --> 00:06:50,242
and my father is excited
about this business

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that he will start,

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and he involves us
in the decision

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00:06:55,449 --> 00:06:58,183
from what will be the symbol
for the bank,

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00:06:58,185 --> 00:07:01,153
and I remember all of us
try to design something.

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00:07:01,155 --> 00:07:04,523
Abacus, you know,
is a Chinese calculator.

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00:07:04,525 --> 00:07:09,294
China considers abacus
as national treasure,

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00:07:09,296 --> 00:07:13,398
so we say we will name
Abacus bank.

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Hello.
Can you open
for me?

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We serve people who have never even been handled

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with the previous banking system,

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00:07:24,044 --> 00:07:26,678
and you try to bring it
into the banking system.

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00:07:26,680 --> 00:07:29,114
That example
is a safe storage box.

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00:07:29,116 --> 00:07:33,718
Have you ever seen so much...
heh heh... box?

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00:07:33,720 --> 00:07:40,358
There are 8,000-plus
boxes in this safe.

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00:07:40,360 --> 00:07:42,561
8,000.

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Chinese people,
especially immigrants,

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they rent a house
in a very narrow place.

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00:07:48,602 --> 00:07:52,871
There is no place for them to put their valuables  except in the bank safe.

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So it starts
with a safe storage box.

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00:07:56,376 --> 00:07:58,510
Then they are willing to put their money into the bank  and then let the money grow,
and then,

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they will take the money
and use it to buy a house.

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00:08:00,581 --> 00:08:02,881
You get a clear understanding of what your mission is  at actual closing.

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Many borrowers carry their entire family with them,

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and they bring their children,

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00:08:09,356 --> 00:08:11,022
their grandmother,

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and when they walk out,
they are all very happy,

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and you feel happy to be part of the process.

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00:08:16,063 --> 00:08:17,562


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We talk to Heather, right?

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00:08:29,343 --> 00:08:30,408
I remember him.

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00:08:30,410 --> 00:08:32,410
Where is he now?

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00:08:34,548 --> 00:08:36,348
Do you have chicken feet
there?

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00:08:36,350 --> 00:08:39,284
Oh okay.
It is always special.

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00:08:39,286 --> 00:08:40,585
That chicken's butt.

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00:08:40,587 --> 00:08:41,786
That's his ass.
Chicken butt.

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00:08:41,788 --> 00:08:43,021
You don't want to eat it.

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00:08:43,023 --> 00:08:44,422
I like that.
Oh

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00:08:44,424 --> 00:08:46,291
He doesn't need a butt.
He can eat it.

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00:08:46,293 --> 00:08:49,628
I never thought
my girls would work in Chinatown

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00:08:49,630 --> 00:08:53,231
because we live
in Greenwich, Connecticut.

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00:08:53,233 --> 00:08:55,267
Tom will commuter
every day, you know,

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00:08:55,269 --> 00:08:58,503
like, one and a half hours
every way,

147
00:08:58,505 --> 00:09:01,473
so he did not see them
that much at that time.

148
00:09:01,475 --> 00:09:06,044
They don't know anything,
is not a vague idea

149
00:09:06,046 --> 00:09:07,646
about the Chinese community.

150
00:09:07,648 --> 00:09:09,681
In fact, Heather still hasn't.

151
00:09:09,683 --> 00:09:11,283
He hates the city, huh?

152
00:09:11,285 --> 00:09:13,818
He is like me.
We both experience headaches,

153
00:09:13,820 --> 00:09:16,354
and at home when we don't
want them to understand,

154
00:09:16,356 --> 00:09:18,290
we speak Mandarin.

155
00:09:18,292 --> 00:09:19,524
You always say to me,

156
00:09:19,526 --> 00:09:21,526
"If you work for a bank,

157
00:09:21,528 --> 00:09:23,028
" The benefits you will have

158
00:09:23,030 --> 00:09:25,397
work 9-4. "

159
00:09:25,399 --> 00:09:27,132
9-4?
He says that?

160
00:09:27,134 --> 00:09:28,533
Because of a long time
then, people can

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00:09:28,535 --> 00:09:30,068
go at 3:00 a.m. to the bank.

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00:09:30,070 --> 00:09:31,469
He says you can have children,

163
00:09:31,471 --> 00:09:32,571
You can have a family.

164
00:09:32,573 --> 00:09:33,838
You know what he says to me?

165
00:09:33,840 --> 00:09:35,273
He says, "if you want
to work with me,

166
00:09:35,275 --> 00:09:37,075
"Remember, this is your choice,  and don't think it will be easy."  You give it
two different stories.

167
00:09:37,077 --> 00:09:39,144
You know, people ask me

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00:09:39,146 --> 00:09:40,845


169
00:09:40,847 --> 00:09:42,247


170
00:09:42,249 --> 00:09:45,050
"so why in the world do you want to get

171
00:09:45,052 --> 00:09:46,484
to banking?"

172
00:09:46,486 --> 00:09:48,687
Not because I need a job.

173
00:09:48,689 --> 00:09:51,323
I'm practicing law,
I'm busy,

174
00:09:51,325 --> 00:09:56,861
but I say to myself,
"It's time for me to do something

175
00:09:56,863 --> 00:09:58,196
for the community."

176
00:09:58,198 --> 00:10:00,799
It starts from your time.

177
00:10:00,801 --> 00:10:02,901
Grandpa.
My grandfather.
My grandfather.

178
00:10:02,903 --> 00:10:06,204
He always thinks like that
respectable things to do.

179
00:10:06,206 --> 00:10:07,572
That's unusual.

180
00:10:07,574 --> 00:10:09,074
Many people in Chinatown,
your generation,

181
00:10:09,076 --> 00:10:10,475
they believe it's respectable

182
00:10:10,477 --> 00:10:12,410
entrusted... to be trusted.

183
00:10:12,412 --> 00:10:14,079
Trust with public funds.

184
00:10:14,081 --> 00:10:15,780
Yes it's true.

185
00:10:18,017 --> 00:10:21,720
Do you have a copy
payment letter for me?

186
00:10:21,722 --> 00:10:22,854
Yes I understand.

187
00:10:22,856 --> 00:10:25,423
Vera, voice-over: This whole
5-year trial begins

188
00:10:25,425 --> 00:10:27,626
in December 2009.

189
00:10:27,628 --> 00:10:29,027
I have closing that day
involving one

190
00:10:29,029 --> 00:10:32,263
Our loan officer, Ken Yu.

191
00:10:32,265 --> 00:10:36,067
Ken Yu works with us
about 4 years.

192
00:10:36,069 --> 00:10:37,569
Staff really likes it.

193
00:10:37,571 --> 00:10:40,171
He is very popular,
he has charisma,

194
00:10:40,173 --> 00:10:42,674
and he does a good job.

195
00:10:42,676 --> 00:10:44,309
That is normal closing

196
00:10:44,311 --> 00:10:46,244
there is a seller's lawyer,

197
00:10:46,246 --> 00:10:47,579
and there are buyers,

198
00:10:47,581 --> 00:10:49,447
but there are lots of
tensions in closing.

199
00:10:49,449 --> 00:10:50,582
They don't get along well.

200
00:10:50,584 --> 00:10:52,651
They argue things.

201
00:10:52,653 --> 00:10:54,753
Vera, voice actor: Lawyer
asks me a question

202
00:10:54,755 --> 00:10:57,389
about additional money
said by borrowers

203
00:10:57,391 --> 00:10:58,890
that he pays.

204
00:10:58,892 --> 00:11:01,960
That doesn't make sense to me,
so I called Ken Yu,

205
00:11:01,962 --> 00:11:04,429
and I ask him
"What is this examination?"

206
00:11:04,431 --> 00:11:06,398
He just goes,
"oh, blah, blah, blah,"

207
00:11:06,400 --> 00:11:10,001
hedging and not answering.

208
00:11:10,003 --> 00:11:12,137
Vera is very upset.

209
00:11:12,139 --> 00:11:14,806
This girl gave thousands of
dollars, I was told,

210
00:11:14,808 --> 00:11:16,675
to the loan officer,
and he thinks

211
00:11:16,677 --> 00:11:19,244
they will be applied
towards the closing costs,

212
00:11:19,246 --> 00:11:20,478
and they don't.

213
00:11:20,480 --> 00:11:22,514
That was very surprising.

214
00:11:22,516 --> 00:11:24,416
I say, "This loan can't be closed."

215
00:11:24,418 --> 00:11:25,583
It was Friday.
Then on Monday,

216
00:11:25,585 --> 00:11:28,887
Ken entered,
and I fired him that day

217
00:11:28,889 --> 00:11:31,990
because he lied
all over the place.

218
00:11:31,992 --> 00:11:33,858
Ken Yu stole money,

219
00:11:33,860 --> 00:11:35,960
and he ran
money laundering operations

220
00:11:35,962 --> 00:11:38,730
without his own knowledge
for everyone here.

221
00:11:38,732 --> 00:11:41,499
Scams that are done clearly.

222
00:11:41,501 --> 00:11:43,802
I refer this case
to our compliance officer,

223
00:11:43,804 --> 00:11:46,171
then we are hired
outside consultants,

224
00:11:46,173 --> 00:11:47,706
former federal prosecutor

225
00:11:47,708 --> 00:11:50,008
who are very experienced
in fraud

226
00:11:50,010 --> 00:11:52,777
and anti money laundering
investigation.

227
00:11:52,779 --> 00:11:56,181
During our investigation,
we found two other loan officers

228
00:11:56,183 --> 00:11:59,184
involved in wrongdoing,

229
00:11:59,186 --> 00:12:01,686
not at Ken Yu's level,

230
00:12:01,688 --> 00:12:04,489
but we keep firing them,

231
00:12:04,491 --> 00:12:07,258
and some other staff
also resign.

232
00:12:07,260 --> 00:12:11,096
Shortly after that, we were told
Fannie Mae.

233
00:12:11,098 --> 00:12:14,365
They actually
don't just fire credit officers

234
00:12:14,367 --> 00:12:16,034
and cancel closure.

235
00:12:16,036 --> 00:12:18,236
They go directly to the office
management of used goods,

236
00:12:18,238 --> 00:12:20,138
who is their regulator,

237
00:12:20,140 --> 00:12:21,940
and they tell them about that.

238
00:12:21,942 --> 00:12:24,843
So that's perfect proof
the bank finds out something

239
00:12:24,845 --> 00:12:27,312
that should not happen
and take steps

240
00:12:27,314 --> 00:12:30,014
to make sure
this doesn't happen again.

241
00:12:30,016 --> 00:12:32,617
The couple unfortunately lost

242
00:12:32,619 --> 00:12:34,652
down payment for this house,

243
00:12:34,654 --> 00:12:36,621
which one, you know,
is quite a lot of money.

244
00:12:36,623 --> 00:12:40,125
That's 10% of the price of the house,
and they are very upset.

245
00:12:40,127 --> 00:12:43,094
And at that time, the borrower, he called me.

246
00:12:43,096 --> 00:12:45,563
He is like, "You know,
there is this money

247
00:12:45,565 --> 00:12:46,731
" That he was taken from me,

248
00:12:46,733 --> 00:12:48,333
So who are you going to do? "

249
00:12:48,335 --> 00:12:50,268
And I told him...
I remember I was very angry.

250
00:12:50,270 --> 00:12:51,836
I was like," What am I going to do? "

251
00:12:51,838 --> 00:12:53,872
Because I think for myself,

252
00:12:53,874 --> 00:12:56,174
" Maybe he conspired
with Ken Yu

253
00:12:56,176 --> 00:12:58,076
to cheat banks. "

254
00:12:58,078 --> 00:12:59,677
I say," if you have a problem,

255
00:12:59,679 --> 00:13:01,179
"You have to file a complaint

256
00:13:01,181 --> 00:13:02,881
in the police station."

257
00:13:06,952 --> 00:13:09,053
Complaints submitted

258
00:13:09,055 --> 00:13:11,322
with the local police station.

259
00:13:11,324 --> 00:13:14,592
D.A Office early
investigation

260
00:13:14,594 --> 00:13:18,696
only focused
on employees

261
00:13:18,698 --> 00:13:21,866
who is accused of theft.

262
00:13:21,868 --> 00:13:23,802
Vera, voice-over: The D.A.
the office starts asking

263
00:13:23,804 --> 00:13:25,670
we question.

264
00:13:25,672 --> 00:13:28,506
Everyone who asks us
for something we give them.

265
00:13:28,508 --> 00:13:30,308
We think we are actually
beyond what

266
00:13:30,310 --> 00:13:31,743
we should do it.

267
00:13:31,745 --> 00:13:34,479
My compliance officer
actually collects the binder

268
00:13:34,481 --> 00:13:36,548
for his staff, and basically,

269
00:13:36,550 --> 00:13:38,850
the beginning of the case
was handed over to his team

270
00:13:38,852 --> 00:13:41,686
in the form of a binder.

271
00:13:41,688 --> 00:13:43,755
You know, at first,
you think they are here

272
00:13:43,757 --> 00:13:46,357
to find out
what happened to us

273
00:13:46,359 --> 00:13:48,793
because they are law enforcement.

274
00:13:48,795 --> 00:13:50,562
I don't know where
and at which point

275
00:13:50,564 --> 00:13:52,397
we switch to...

276
00:13:52,399 --> 00:13:53,531
in their minds, yes, for what...

277
00:13:53,533 --> 00:13:55,333
in their minds
and then we realize

278
00:13:55,335 --> 00:13:56,801
"wait a minute.

279
00:13:56,803 --> 00:14:00,171
You know, maybe
we are the target. "

280
00:14:00,173 --> 00:14:03,208
We spend a lot of time
investigating

281
00:14:03,210 --> 00:14:05,677
and ending
really sure

282
00:14:05,679 --> 00:14:10,215
that loan department
corrupt

283
00:14:10,217 --> 00:14:12,116
pretty much through and through.

284
00:14:12,118 --> 00:14:13,985
Pak Wong runs
loan department,

285
00:14:13,987 --> 00:14:17,222
and widespread fraud
occurs ahead

286
00:14:17,224 --> 00:14:19,357
about him every day.  That office
believes that knowledge

287
00:14:33,005 --> 00:14:36,641
corruption rises to
people who are high enough in the bank

288
00:14:36,643 --> 00:14:39,611
that the bank is
the law for that.

289
00:14:39,613 --> 00:14:44,716
Let me assure you
which we don't take lightly

290
00:14:44,718 --> 00:14:46,651
accusations
that we announce today.

291
00:14:46,653 --> 00:14:48,720
In fact, the last time this office was submitted 1991.

292
00:14:48,722 --> 00:14:50,622
Now these defendants,
banks and former employees

293
00:14:50,624 --> 00:14:55,460


294
00:14:55,462 --> 00:14:58,296


295
00:14:58,298 --> 00:15:00,031
and
manager of the loan department,

296
00:15:00,033 --> 00:15:03,468
charged with the involvement of
in a systematic scheme

297
00:15:03,470 --> 00:15:06,437
falsify and compose
loan applications

298
00:15:06,439 --> 00:15:08,640
to the national federal
mortgage association,

299
00:15:08,642 --> 00:15:11,442
generally known as Fannie Mae.

300
00:15:11,444 --> 00:15:13,278
When exactly does
indictment occur,

301
00:15:13,280 --> 00:15:15,046
I think the biggest fear
is that it will happen

302
00:15:15,048 --> 00:15:17,515
directly involves Jill,

303
00:15:17,517 --> 00:15:20,285
and that is something
that we cannot understand,

304
00:15:20,287 --> 00:15:22,020
just knowing how we grew up,

305
00:15:22,022 --> 00:15:25,556
that he can feel guilty
something like that.

306
00:15:25,558 --> 00:15:26,925
Jill, voice-over: I mean,
I think they must be

307
00:15:26,927 --> 00:15:29,727
see try
to get us, to get me, yes,

308
00:15:29,729 --> 00:15:31,696
because I am the CEO of
and the president,

309
00:15:31,698 --> 00:15:34,198
but they don't charge me
individually

310
00:15:34,200 --> 00:15:35,767
because they don't have any
proof

311
00:15:35,769 --> 00:15:38,536
to support that I am involved
in mistakes.

312
00:15:38,538 --> 00:15:41,139
We feel that
proof can be proven to stop

313
00:15:41,141 --> 00:15:42,607
at a certain level,

314
00:15:42,609 --> 00:15:46,277
but that is the individual
who is accused

315
00:15:46,279 --> 00:15:48,212
quite high
in company

316
00:15:48,214 --> 00:15:51,215
to charge corporations.

317
00:15:51,217 --> 00:15:53,217
I am in the
district attorney's office

318
00:15:53,219 --> 00:15:55,553
as a prosecutor for 7 years,

319
00:15:55,555 --> 00:15:59,424
the very division
brought this prosecution

320
00:15:59,426 --> 00:16:01,960
against family banks,

321
00:16:01,962 --> 00:16:04,629
and when I know
what they do,

322
00:16:04,631 --> 00:16:07,298
I have to go to the head of my bureau

323
00:16:07,300 --> 00:16:09,200
so he knows that,

324
00:16:09,202 --> 00:16:10,735
You know, this is happening,

325
00:16:10,737 --> 00:16:12,570
there is a potential
conflict here,

326
00:16:12,572 --> 00:16:15,873
and that makes me very angry
that the same office

327
00:16:15,875 --> 00:16:20,745
where I have served
and trained to do that.

328
00:16:20,747 --> 00:16:23,881
To find out what they are doing
this is against my family,

329
00:16:23,883 --> 00:16:26,517
who I am.

330
00:16:26,519 --> 00:16:27,952
That's where I come from,

331
00:16:27,954 --> 00:16:32,256
and then find out
my reputation in the office

332
00:16:32,258 --> 00:16:35,059
is one of the highest integrity.

333
00:16:35,061 --> 00:16:36,327
That's just...

334
00:16:39,031 --> 00:16:41,032
Does not make sense.

335
00:16:59,451 --> 00:17:01,152
What is very interesting

336
00:17:01,154 --> 00:17:04,956
is the way D.A.
pursued
aspects of public relations

337
00:17:04,958 --> 00:17:06,624
this prosecution.

338
00:17:06,626 --> 00:17:08,292
Journalists in this city are treated

339
00:17:08,294 --> 00:17:10,995
to this extraordinary
photo opportunity,

340
00:17:10,997 --> 00:17:14,198
This almost looks Stalinist
chain gang.

341
00:17:23,909 --> 00:17:25,243
I am a former prosecutor.

342
00:17:25,245 --> 00:17:26,778
I am not soft on crime.

343
00:17:26,780 --> 00:17:29,013
I have never seen a show
like this.

344
00:17:29,015 --> 00:17:33,418
These people are deliberately humiliated
without good reason.

345
00:17:33,420 --> 00:17:35,853
Not that
district prosecutor's office

346
00:17:35,855 --> 00:17:38,623


347
00:17:38,625 --> 00:17:42,427
the decision whether or not to put
cuffed people,

348
00:17:42,429 --> 00:17:44,429
but people who are brought
to court

349
00:17:44,431 --> 00:17:46,364
which has been billed
with crime

350
00:17:46,366 --> 00:17:48,633
put into handcuffs.

351
00:17:48,635 --> 00:17:52,570
It was a decision made by a court official.

352
00:17:52,572 --> 00:17:54,205
I will not discuss it
more than that

353
00:17:54,207 --> 00:17:57,508
because, you know, it's not
something that involves me.

354
00:17:57,510 --> 00:17:59,010
Court officials don't leave

355
00:17:59,012 --> 00:18:00,311
courtroom.

356
00:18:00,313 --> 00:18:01,579
They are taken to the hallway

357
00:18:01,581 --> 00:18:04,549
by the district attorney
investigators.

358
00:18:06,819 --> 00:18:10,455
I got off the elevator,
and I saw what was happening.

359
00:18:10,457 --> 00:18:13,191
I have never seen that
all my time

360
00:18:13,193 --> 00:18:14,525
in the D.A office.

361
00:18:14,527 --> 00:18:16,727
I mean, this is like the case of this century.

362
00:18:16,729 --> 00:18:21,499
He will never do that
with... with a black group

363
00:18:21,501 --> 00:18:22,967
employees, you know.

364
00:18:22,969 --> 00:18:25,503
I mean, everyone will see
for what it is,

365
00:18:25,505 --> 00:18:29,373
and they actually
are staged so much

366
00:18:29,375 --> 00:18:32,043
3 people that are
are in that chain

367
00:18:32,045 --> 00:18:33,878
has been dragged,

368
00:18:33,880 --> 00:18:35,746
already posted bonds

369
00:18:35,748 --> 00:18:37,949
and are awaiting trial.

370
00:18:37,951 --> 00:18:40,218
The D.A.
has added the cost of

371
00:18:40,220 --> 00:18:41,919
to Mr. Wong & apos; s
indictment.

372
00:18:41,921 --> 00:18:43,588
Normally, you don't even have to go

373
00:18:43,590 --> 00:18:44,655
through that process again.

374
00:18:44,657 --> 00:18:46,090
They only add accusations,

375
00:18:46,092 --> 00:18:48,826
You are dragged again,
guarantee transferred,

376
00:18:48,828 --> 00:18:50,194
and that.

377
00:18:50,196 --> 00:18:52,463
Instead, they have me
submit him,

378
00:18:52,465 --> 00:18:53,898
and the next thing you know,

379
00:18:53,900 --> 00:18:57,335
I saw him chained
to 15 other people,

380
00:18:57,337 --> 00:19:00,838
be herded like cattle in the hallway of 100 Center street.

381
00:19:00,840 --> 00:19:02,573
I have done this
for 25 years,

382
00:19:02,575 --> 00:19:05,009
and I have never seen it
that happened before.

383
00:19:05,011 --> 00:19:07,311
I'm sure there are
security issues

384
00:19:07,313 --> 00:19:10,448
behind that decision,
but that decision

385
00:19:10,450 --> 00:19:16,254
can also have
and... implications and create feelings

386
00:19:16,256 --> 00:19:20,124
that... which does not reflect

387
00:19:20,126 --> 00:19:21,826
view of the office
or my view,

388
00:19:21,828 --> 00:19:24,495
and... and to some extent
that happens here,

389
00:19:24,497 --> 00:19:27,131
I think that... that's
very unfortunate,

390
00:19:27,133 --> 00:19:30,801
but that... it happened.

391
00:19:39,745 --> 00:19:43,014
This is an insult to me.
That...

392
00:19:46,785 --> 00:19:48,586
Chanterelle, voice-over:
And that's where I see

393
00:19:48,588 --> 00:19:51,756
combined incompetence
with arrogance.

394
00:19:53,258 --> 00:19:56,894
My bureau deputy head,
he is always very inspiring,

395
00:19:56,896 --> 00:19:58,563
and he will always refer
to inscription

396
00:19:58,565 --> 00:19:59,630
outside 100 center of the road

397
00:19:59,632 --> 00:20:03,868
about having confidence in justice,

398
00:20:03,870 --> 00:20:07,838
but I don't... I don't believe it anymore.

399
00:20:07,840 --> 00:20:11,609
I decided to go
D.A.

400
00:20:11,611 --> 00:20:13,678
That really angered the Chinese community,

401
00:20:13,680 --> 00:20:14,879
but so what?

402
00:20:14,881 --> 00:20:18,482
They will not decide
selection for Vance.

403
00:20:27,593 --> 00:20:29,527
That's it.
Ha ha ha!

404
00:20:29,529 --> 00:20:31,262
Have you done it many times?

405
00:20:31,264 --> 00:20:32,697
my whole life.

406
00:20:35,467 --> 00:20:36,667
That is an association

407
00:20:36,669 --> 00:20:38,502
where my great grandfather was,

408
00:20:38,504 --> 00:20:41,739
my grandfather, my father.

409
00:20:41,741 --> 00:20:44,242
Back in days
with exception actions,

410
00:20:44,244 --> 00:20:46,444
people don't have rights.

411
00:20:46,446 --> 00:20:48,579
This is where they will do it
it all comes.

412
00:20:48,581 --> 00:20:50,681
Family association
Like this one

413
00:20:50,683 --> 00:20:54,252
is the only place
where they feel welcomed.

414
00:20:54,254 --> 00:20:57,255
Like Mr. Sung, what drives me

415
00:20:57,257 --> 00:20:59,190
is a sense of community.

416
00:21:12,070 --> 00:21:13,337
Lee, voice-over: This case is
about an attack

417
00:21:13,339 --> 00:21:15,039
in our community.

418
00:21:15,041 --> 00:21:16,574
We are easy prey.

419
00:21:16,576 --> 00:21:18,576
I think that's what happened.

420
00:21:18,578 --> 00:21:21,479
People have reasons
to be afraid of authority

421
00:21:21,481 --> 00:21:22,880
or what can happen to them,

422
00:21:22,882 --> 00:21:26,550
You know, the levy,
years of oppression

423
00:21:26,552 --> 00:21:28,586
it happens
from street vendors,

424
00:21:28,588 --> 00:21:30,054
from a small business,

425
00:21:30,056 --> 00:21:32,990
from people who have just written
tickets because they can.

426
00:22:16,568 --> 00:22:18,703
This is more than just
Abacus Savings Bank

427
00:22:18,705 --> 00:22:20,037
cleared.

428
00:22:20,039 --> 00:22:24,408
It's about freeing
our entire community,

429
00:22:24,410 --> 00:22:26,844
no matter what we do,

430
00:22:26,846 --> 00:22:29,814
well the little one
sells vegetables

431
00:22:29,816 --> 00:22:32,717
or banks that do business.

432
00:22:32,719 --> 00:22:35,720
I told Mr. Sung, "I'm happy
they chose you

433
00:22:35,722 --> 00:22:37,588
because you're a warrior."

434
00:22:40,225 --> 00:22:43,694
Cyrus Vance has just felt this
is more vulnerable,

435
00:22:43,696 --> 00:22:45,596
especially it is a family bank,

436
00:22:45,598 --> 00:22:48,866
but he is not aware
tom is not easy

437
00:22:48,868 --> 00:22:52,303
to be driven around.

438
00:22:52,305 --> 00:22:55,506
And my girls, they're tough,

439
00:22:55,508 --> 00:22:59,844
intelligent and capable women,
very brave.

440
00:22:59,846 --> 00:23:03,247
Although this is
whether David is against Goliath,

441
00:23:03,249 --> 00:23:04,782
David, being Abacus
Federal Savings Bank,

442
00:23:04,784 --> 00:23:07,551
have slingshots,
and that, you know,

443
00:23:07,553 --> 00:23:08,886
they are the whole family
lawyers.

444
00:23:08,888 --> 00:23:11,389
I will be able to fight this.

445
00:23:11,391 --> 00:23:12,757
They are almost cheerful.
They are like,

446
00:23:12,759 --> 00:23:14,458
"We will have
our day in court now.

447
00:23:14,460 --> 00:23:16,994
" We actually will
be displayed

448
00:23:16,996 --> 00:23:19,029
that they are wrong. "

449
00:23:19,031 --> 00:23:20,297
They make a decision

450
00:23:20,299 --> 00:23:22,800
that they don't
will plead guilty

451
00:23:22,802 --> 00:23:24,435
to something they
don't feel

452
00:23:24,437 --> 00:23:26,036
the bank is guilty.

453
00:23:26,038 --> 00:23:30,808
That is a bold choice,
and that is an expensive choice.

454
00:23:30,810 --> 00:23:33,043
D.A Office
hundreds of lawyers

455
00:23:33,045 --> 00:23:36,414
and it takes 5 years to do it
their grand jury investigation,

456
00:23:36,416 --> 00:23:40,751
and that is a daunting task
to fight the government.

457
00:23:42,821 --> 00:23:47,491
Good morning,
Mr. and Mrs. Jury.

458
00:23:47,493 --> 00:23:50,027
This is a simple case
about banks

459
00:23:50,029 --> 00:23:53,164
who have been converted
into a criminal conspiracy

460
00:23:53,166 --> 00:23:55,833
driven by greed.

461
00:23:55,835 --> 00:23:57,768
Defendants
Abacus Federal Savings Bank

462
00:23:57,770 --> 00:24:01,572
engage in an ongoing process
conspiracy mortgage fraud.

463
00:24:01,574 --> 00:24:05,709
They routinely faked
and falsified mortgage documents  and then deceive the federal
national mortgage association,

464
00:24:05,711 --> 00:24:09,213
generally known as Fannie Mae.

465
00:24:09,215 --> 00:24:11,615
They take Fannie Mae
money for loans,

466
00:24:11,617 --> 00:24:13,951
full of lies,
while promising

467
00:24:13,953 --> 00:24:16,353


468
00:24:16,355 --> 00:24:17,455
that the loan exists

469
00:24:17,457 --> 00:24:20,691
honest and verified
information.

470
00:24:20,693 --> 00:24:25,229
The defendants did this
again and again and again,

471
00:24:25,231 --> 00:24:27,998
and between 2005 and 2010,

472
00:24:28,000 --> 00:24:30,468
banks generate millions
dollar services

473
00:24:30,470 --> 00:24:33,571
and sell fake loans
to Fannie Mae.

474
00:24:33,573 --> 00:24:36,774
The defendants plotted
to steal money from Fannie Mae

475
00:24:36,776 --> 00:24:40,444
and indeed, actually,
stole money from Fannie Mae.

476
00:24:43,682 --> 00:24:45,950
Historians tell us
that Abraham Lincoln

477
00:24:45,952 --> 00:24:48,319
likes puzzles,
and one of his favorites

478
00:24:48,321 --> 00:24:50,321
go like this.

479
00:24:50,323 --> 00:24:52,256
If you call the tail of the leg,

480
00:24:52,258 --> 00:24:54,492
How many legs does the dog have?

481
00:24:54,494 --> 00:24:56,760
And the answer is 4

482
00:24:56,762 --> 00:25:00,431
because calling the tail of the foot
does not make it a leg.

483
00:25:00,433 --> 00:25:04,201
Calling Fannie Mae as a victim of
from big theft and fraud

484
00:25:04,203 --> 00:25:08,239
like calling
the tail of a dog.

485
00:25:08,241 --> 00:25:12,109
We don't lose,
we don't harm,

486
00:25:12,111 --> 00:25:14,111
we don't have theft,

487
00:25:14,113 --> 00:25:16,514
we don't have fraud.

488
00:25:20,786 --> 00:25:21,852
Hello?

489
00:25:21,854 --> 00:25:24,655
Heather?
You are talking.

490
00:25:24,657 --> 00:25:26,156
Good.

491
00:25:26,158 --> 00:25:28,092
So how does everything work today?

492
00:25:28,094 --> 00:25:29,827
That is a very long day.

493
00:25:29,829 --> 00:25:32,263
We are exhausted.
Long day.

494
00:25:32,265 --> 00:25:33,998
I am very tired.

495
00:25:34,000 --> 00:25:35,399
Don't get me wrong.

496
00:25:35,401 --> 00:25:39,036
I think all lawyers
do a very, very good job,

497
00:25:39,038 --> 00:25:42,072
but feeling, emotion

498
00:25:42,074 --> 00:25:43,707
a little less.

499
00:25:43,709 --> 00:25:46,877
The good, strong...
He doesn't touch that emotion.

500
00:25:46,879 --> 00:25:49,680
Presentation of your case
requires emotion.

501
00:25:49,682 --> 00:25:51,415
Of course, there are many other things  it can be said
or it should be said.

502
00:25:51,417 --> 00:25:53,684
You must let you
attorney at this point,

503
00:25:53,686 --> 00:25:56,186


504
00:25:56,188 --> 00:25:57,354
who lives with this case

505
00:25:57,356 --> 00:25:59,156
and feels very strong
about that,

506
00:25:59,158 --> 00:26:01,025
You have to let him... let him...

507
00:26:01,027 --> 00:26:02,059
I think he...

508
00:26:02,061 --> 00:26:03,661
leave him, let him do it.

509
00:26:03,663 --> 00:26:05,496
He spends the most time talking  about how we stopped
closing it,

510
00:26:05,498 --> 00:26:07,598
and he shows you
what steps do we take after that.

511
00:26:07,600 --> 00:26:10,768
If you... the jury
must be convinced

512
00:26:10,770 --> 00:26:12,870
by document proof.
Very thorough.

513
00:26:12,872 --> 00:26:14,471
I agree with you.

514
00:26:14,473 --> 00:26:15,539
The facts are taken out,

515
00:26:15,541 --> 00:26:17,408
the law is issued.

516
00:26:17,410 --> 00:26:19,176
He said...
He really said...

517
00:26:19,178 --> 00:26:21,045
30 years of business.

518
00:26:21,047 --> 00:26:23,213
He hasn't finished yet.
That's not what it means.

519
00:26:23,215 --> 00:26:24,615
Let him finish it.

520
00:26:24,617 --> 00:26:25,749
You continue to interrupt.

521
00:26:25,751 --> 00:26:27,051
Let him express his feelings.
He must.

522
00:26:27,053 --> 00:26:28,719


523
00:26:28,721 --> 00:26:30,921
Judges
are not permitted to consider...

524
00:26:30,923 --> 00:26:32,623
we are allowed to
express our feelings too.

525
00:26:32,625 --> 00:26:34,291
Yes, but you don't have to jump up and down.

526
00:26:34,293 --> 00:26:35,726
I haven't jumped up yet.

527
00:26:35,728 --> 00:26:36,860
I haven't actually spoken
is... is...

528
00:26:36,862 --> 00:26:39,697
You talk back to me again.

529
00:26:39,699 --> 00:26:42,166
I have to work.
I must sign a loan.

530
00:26:42,168 --> 00:26:44,668
The loan has been on my desk
for 3 days now.

531
00:26:44,670 --> 00:26:46,370
I want to give loans
People.

532
00:26:46,372 --> 00:26:48,339
Do you know what?
Don't be too excited.

533
00:26:48,341 --> 00:26:51,075
I don't.
I just said
I have to solve many things.

534
00:26:51,077 --> 00:26:52,443
Leave it alone, leave it alone.

535
00:26:52,445 --> 00:26:54,411
Heather, I'm dependent on you now, okay?

536
00:26:56,448 --> 00:26:57,748
Rocket.
Let's go.

537
00:26:57,750 --> 00:26:59,583
Ok, Jill.
We will leave you.

538
00:26:59,585 --> 00:27:01,051
Exit, exit, exit, exit.
Come on.

539
00:27:01,053 --> 00:27:02,653
We have to work now.
Let's go!

540
00:27:07,692 --> 00:27:10,194
So there are 180 or more than that

541
00:27:10,196 --> 00:27:12,062
in this trial.

542
00:27:15,166 --> 00:27:16,667
And let's also remember

543
00:27:16,669 --> 00:27:19,503
that there is, I think,
10 pleading guilty here.

544
00:27:19,505 --> 00:27:22,473
The D.A., the case is built
basically in reality

545
00:27:22,475 --> 00:27:25,743
that he caught all this
low-level loan officer.

546
00:27:25,745 --> 00:27:27,344
They start going
to people's homes,

547
00:27:27,346 --> 00:27:29,413
many people
at 6:00 a.m.,

548
00:27:29,415 --> 00:27:34,051
knock on their door
and demand...

549
00:27:34,053 --> 00:27:35,653
not forceful but demanding it

550
00:27:35,655 --> 00:27:37,221
people go down
to the district attorney's office

551
00:27:37,223 --> 00:27:39,289
and talk to them,
and they get lots of statements

552
00:27:39,291 --> 00:27:41,358
from many people
use that tactic.

553
00:27:41,360 --> 00:27:42,926
Speaking
about Chinese people,

554
00:27:42,928 --> 00:27:46,830
many of them... have come
from the police state,

555
00:27:46,832 --> 00:27:49,900
and in China, people
that fear,

556
00:27:49,902 --> 00:27:52,369
knock at the door.

557
00:27:52,371 --> 00:27:54,038
Good morning, Mr. Yu.

558
00:27:54,040 --> 00:27:55,172
Good morning.

559
00:27:55,174 --> 00:27:56,907
When court officials
swear to you,

560
00:27:56,909 --> 00:27:58,409
he asks your name.

561
00:27:58,411 --> 00:28:00,644
You say Qui Bin Yu.

562
00:28:00,646 --> 00:28:03,047
Are there other names
You passed?

563
00:28:03,049 --> 00:28:05,115
Ken Yu.

564
00:28:05,117 --> 00:28:08,318
This is this man, Ken Yu,

565
00:28:08,320 --> 00:28:10,754
who knows how the bank knows

566
00:28:10,756 --> 00:28:13,057
about this error
in the first place,

567
00:28:13,059 --> 00:28:15,159
people who are fired by the bank.

568
00:28:15,161 --> 00:28:17,127
Not only does he
falsify documents

569
00:28:17,129 --> 00:28:18,796
to pay off a loan,

570
00:28:18,798 --> 00:28:21,699
he stole money
from customers.

571
00:28:21,701 --> 00:28:26,470
The man finally becomes
a witness starring the D.A office.

572
00:28:26,472 --> 00:28:28,439
Mr. Yu,
I want to direct

573
00:28:28,441 --> 00:28:30,874
your attention
for the Ariel Chi case.

574
00:28:30,876 --> 00:28:34,111
Chi is a borrower
You stole money from, right?

575
00:28:34,113 --> 00:28:35,345
Yes sir.

576
00:28:35,347 --> 00:28:37,047
Isn't that right?
You ask Ms. Chi

577
00:28:37,049 --> 00:28:38,849
for cash tips, too?

578
00:28:38,851 --> 00:28:41,151
No, I never asked
him for cash tips.

579
00:28:41,153 --> 00:28:42,853
I don't remember that part.

580
00:28:42,855 --> 00:28:45,923
Mr. Yu, there is a telephone conversation
with Ariel Chi.

581
00:28:45,925 --> 00:28:47,424
Is that true?

582
00:28:47,426 --> 00:28:48,726
Right, sir.

583
00:28:48,728 --> 00:28:50,561
And at that time, you don't know

584
00:28:50,563 --> 00:28:53,063
that Ms. Chi
actually records the conversation

585
00:28:53,065 --> 00:28:57,000
with help from
from the district attorney's office, right?

586
00:28:57,002 --> 00:28:59,069
Yes sir.

587
00:28:59,071 --> 00:29:01,905
D.A Office
trying to make it

588
00:29:01,907 --> 00:29:04,875
implies the bank.

589
00:29:04,877 --> 00:29:07,544
This recording is taken
to court

590
00:29:07,546 --> 00:29:11,515
through our lawyer
at cross examination of Ken Yu.

591
00:29:11,517 --> 00:29:14,184
Let's go straight into it.

592
00:29:14,186 --> 00:29:16,053
You told me after closing

593
00:29:16,055 --> 00:29:17,621
that I have to go

594
00:29:17,623 --> 00:29:20,023
and give you cash, right?

595
00:29:20,025 --> 00:29:21,525
To make everything...

596
00:29:21,527 --> 00:29:24,595
I mean... legally,
you shouldn't do that,

597
00:29:24,597 --> 00:29:26,029
but, hey, that's
after closing.

598
00:29:26,031 --> 00:29:28,398
I mean, everything else is legally incorrect,

599
00:29:28,400 --> 00:29:31,435
so, you know, I think
the others...

600
00:29:31,437 --> 00:29:33,570
It's just not written
the rules are, uh...

601
00:29:33,572 --> 00:29:36,740
it happens in every case I see.

602
00:29:36,742 --> 00:29:41,578
You know, in the end,
you, like, you show appreciation.

603
00:29:41,580 --> 00:29:43,147
Doing this
refresh your memory

604
00:29:43,149 --> 00:29:46,049
Do you really ask for a tip?

605
00:29:46,051 --> 00:29:48,585
Yes.

606
00:29:48,587 --> 00:29:50,487
I know that
he can't see me.

607
00:29:50,489 --> 00:29:51,755
That's very telling.
Yes.

608
00:29:51,757 --> 00:29:53,524
He can't see me,
but I, like,

609
00:29:53,526 --> 00:29:55,025
"I'll see
in you."

610
00:29:55,027 --> 00:29:56,560
I like, "I will do it
burn you with my eyes."

611
00:29:56,562 --> 00:29:58,662
I look at it carefully,
too, too.

612
00:29:58,664 --> 00:30:01,865
"I dare you say
what you want to say."

613
00:30:01,867 --> 00:30:05,269
He stands on the pulpit
and swears falsely

614
00:30:05,271 --> 00:30:07,538
again and again and again

615
00:30:07,540 --> 00:30:11,775
by the way a defense lawyer
just can't

616
00:30:11,777 --> 00:30:14,311
in more careers
than once or twice.

617
00:30:14,313 --> 00:30:16,947
The jury laughs at her
several times.

618
00:30:16,949 --> 00:30:21,652
Abacus... you told me
that Abacus knew, right?

619
00:30:21,654 --> 00:30:23,687
We did not say it to the bank.

620
00:30:23,689 --> 00:30:26,056
Only individuals,
people

621
00:30:26,058 --> 00:30:27,457
who works for the bank.

622
00:30:27,459 --> 00:30:29,159
I am a bank employee,

623
00:30:29,161 --> 00:30:32,095
and so are other insurers.

624
00:30:32,097 --> 00:30:34,565
So... ok, but, like, Abacus,

625
00:30:34,567 --> 00:30:38,101
like, the bank they know
all those people

626
00:30:38,103 --> 00:30:41,271
This is finished, right?

627
00:30:41,273 --> 00:30:43,574
I... I will say that.

628
00:30:44,843 --> 00:30:47,010
Now you have a long gap there,

629
00:30:47,012 --> 00:30:48,412
isn't that right, Mr. Yu?

630
00:30:48,414 --> 00:30:49,746
I'm driving.

631
00:30:49,748 --> 00:30:52,115
So it's a long gap
because you're driving,

632
00:30:52,117 --> 00:30:53,483
are you interrupted?

633
00:30:53,485 --> 00:30:54,885
Is that your testimony?

634
00:30:54,887 --> 00:30:57,454
I don't remember,
but I definitely drive.

635
00:30:57,456 --> 00:30:59,723
You will say that
if you get into trouble.

636
00:30:59,725 --> 00:31:00,924
Is that what you mean there?

637
00:31:00,926 --> 00:31:02,392
I say that because...
it's very...

638
00:31:02,394 --> 00:31:03,827
Mr. Yu, I ask you...

639
00:31:03,829 --> 00:31:06,263
this is a strange way
to answer that question,

640
00:31:06,265 --> 00:31:09,132
and I ask you
what do you mean by...

641
00:31:09,134 --> 00:31:11,268
I... I will say that.

642
00:31:11,270 --> 00:31:15,038
I will say that.
I believe it.

643
00:31:15,040 --> 00:31:19,309
Well, the jury can decide what your tone suggests.

644
00:31:19,311 --> 00:31:20,978
It becomes very clear

645
00:31:20,980 --> 00:31:22,880
that he has no trouble lying.

646
00:31:22,882 --> 00:31:24,915
If that's how he is
comfortable acting,

647
00:31:24,917 --> 00:31:26,850
I will think about it
he will feel comfortable

648
00:31:26,852 --> 00:31:29,586
say more to try
to link directly

649
00:31:29,588 --> 00:31:33,257
Mr. Tam and Mr. Wong
and Jill Sung

650
00:31:33,259 --> 00:31:35,993
with what happened,
but even he did not do that.

651
00:31:35,995 --> 00:31:40,998
But you also have to do it
don't let go of facts

652
00:31:41,000 --> 00:31:43,934
which he did not get
this method overnight.

653
00:31:43,936 --> 00:31:46,837
He has years like this

654
00:31:46,839 --> 00:31:50,040
behavior  it is only ignored
on various occasions.

655
00:31:50,042 --> 00:31:53,043
What role is happening
bank management game

656
00:31:53,045 --> 00:31:54,578
in what happened?

657
00:31:54,580 --> 00:31:57,681
How much they don't
realize what is happening

658
00:31:57,683 --> 00:32:01,184
versus closing eyes
because everything works well

659
00:32:01,186 --> 00:32:03,153
and the results are good?

660
00:32:03,155 --> 00:32:06,056
Ken Yu is clearly a bad egg.

661
00:32:06,058 --> 00:32:08,492
By using Ken Yu, which
is the worst of the worst,

662
00:32:08,494 --> 00:32:10,227
D.A office. say,

663
00:32:10,229 --> 00:32:12,763
"This is his face
from the institution,"

664
00:32:12,765 --> 00:32:15,999
and the judges will believe that
and find it credible.

665
00:32:16,001 --> 00:32:19,436
If the bank conspires like that
with this person,

666
00:32:19,438 --> 00:32:21,204
then why do we fire him?

667
00:32:21,206 --> 00:32:23,340
We want to save him.

668
00:32:24,776 --> 00:32:28,545
What is D.A.
accused the Abacus Bank of being ridiculous  and really no one considers what big banks do.

669
00:32:28,547 --> 00:32:33,383
All banks are too big to fail,

670
00:32:34,652 --> 00:32:37,087
Morgan Stanley, Goldman Sachs,

671
00:32:37,089 --> 00:32:39,222
J.P. Morgan Chase,
and Citicorp

672
00:32:39,224 --> 00:32:42,125
has admitted a big crime,

673
00:32:42,127 --> 00:32:44,561
and they have been charged
even worse.

674
00:32:44,563 --> 00:32:47,564
Almost every direction
financial company

675
00:32:47,566 --> 00:32:49,967
and big banks in this country

676
00:32:49,969 --> 00:32:51,601
and many more
from foreign banks, too,

677
00:32:51,603 --> 00:32:53,603
engaged
in a very wide fraud scheme

678
00:32:53,605 --> 00:32:56,640


679
00:32:56,642 --> 00:33:00,877
where they publish
a large number of home loans,

680
00:33:00,879 --> 00:33:03,113
especially for middle-
and low-income borrowers,

681
00:33:03,115 --> 00:33:06,283
and then they repackaged it
the loan and sold it

682
00:33:06,285 --> 00:33:07,651
to investors

683
00:33:07,653 --> 00:33:11,488
but disguise them
as high-ranking securities.

684
00:33:14,692 --> 00:33:17,828
That's very unusual
dangerous toxic loans

685
00:33:17,830 --> 00:33:20,030
which most likely will explode
and explode

686
00:33:20,032 --> 00:33:22,933
in large numbers after 2008.

687
00:33:26,537 --> 00:33:28,071
But there is such an assumption

688
00:33:28,073 --> 00:33:30,140
we cannot bring
crimes against them

689
00:33:30,142 --> 00:33:32,376
because of guarantees
consequences

690
00:33:32,378 --> 00:33:34,044
an institution
is very large,

691
00:33:34,046 --> 00:33:35,479
internationally connected

692
00:33:35,481 --> 00:33:37,414
who charge them
or file criminal complaints

693
00:33:37,416 --> 00:33:40,984
against them can be destroyed
entire financial system.

694
00:33:42,987 --> 00:33:44,087
So you have

695
00:33:44,089 --> 00:33:45,088
this big offender,

696
00:33:45,090 --> 00:33:46,189
and they commit crime.

697
00:33:46,191 --> 00:33:49,126
"We will only take money."

698
00:33:49,128 --> 00:33:50,227
They will cut the check

699
00:33:50,229 --> 00:33:51,895
and make everything disappear.

700
00:33:53,831 --> 00:33:56,299
I think every American is angry

701
00:33:56,301 --> 00:33:58,769
in that crisis
we passed.

702
00:33:58,771 --> 00:34:03,774
There is that behavior
unethical,

703
00:34:03,776 --> 00:34:07,077
and I think Americans are angry
that security

704
00:34:07,079 --> 00:34:11,782
for loans made
is often fictitious,

705
00:34:11,784 --> 00:34:15,285
and in Abacus, there are
some truths too.

706
00:34:15,287 --> 00:34:17,587
Obviously
is not a big big bank.

707
00:34:20,191 --> 00:34:22,292
And obviously not that

708
00:34:22,294 --> 00:34:24,161
representative of the whole

709
00:34:24,163 --> 00:34:25,796
financial community,

710
00:34:25,798 --> 00:34:29,933
but I think the principle is
the same.

711
00:34:29,935 --> 00:34:33,036
This shows, I think,
very graphic

712
00:34:33,038 --> 00:34:37,140
this difference in the way we deal
with certain types of actors

713
00:34:37,142 --> 00:34:39,109
versus others.

714
00:34:39,111 --> 00:34:41,945
Pak Sung doesn't offer the same agreement.

715
00:34:41,947 --> 00:34:45,582
He was not offered the opportunity to pay a fine.

716
00:34:45,584 --> 00:34:48,852
He was not offered the opportunity
to plead guilty

717
00:34:48,854 --> 00:34:50,220
for some small things.

718
00:34:50,222 --> 00:34:52,522
He is not offered a chance
even a suspended prosecution.

719
00:34:52,524 --> 00:34:54,724
He doesn't get all that
offers him.

720
00:34:54,726 --> 00:34:56,593
Thomas, voiceover:
The D.A.
tell us

721
00:34:56,595 --> 00:34:59,996
"You must accept it
plead guilty

722
00:34:59,998 --> 00:35:03,600
for crimes plus fines."

723
00:35:03,602 --> 00:35:06,436
Now what are our choices?

724
00:35:06,438 --> 00:35:08,772
They want confidence,

725
00:35:08,774 --> 00:35:10,674
and Vance will chase him.

726
00:35:10,676 --> 00:35:14,211
I think if you will choose
a bank to choose from,

727
00:35:14,213 --> 00:35:16,913
a family owned company sandwiched
between some noodle shops

728
00:35:16,915 --> 00:35:19,983
in Chinatown is about
as easy as a target

729
00:35:19,985 --> 00:35:21,785
because you might be able to choose.

730
00:35:24,589 --> 00:35:26,256
I think characterization

731
00:35:26,258 --> 00:35:28,658
that this is somehow
cultural bias

732
00:35:28,660 --> 00:35:31,895
in the office section,
uh, completely misplaced

733
00:35:31,897 --> 00:35:33,363
and completely wrong.

734
00:35:33,365 --> 00:35:35,499
We devote a lot of effort
to protect
immigrant communities,

735
00:35:35,501 --> 00:35:37,968
and I feel that our handling of the bank is consistent  with how we will do it
handle banks

736
00:35:37,970 --> 00:35:41,571
if we are investigating
banks that are served

737
00:35:41,573 --> 00:35:43,039
South American community
or Indian community.

738
00:35:43,041 --> 00:35:45,942
There is nothing different
that we do

739
00:35:45,944 --> 00:35:48,678
or deliberately designed
to treat this bank differently.

740
00:35:48,680 --> 00:35:50,747
That is important
for prosecution to be displayed

741
00:35:50,749 --> 00:35:53,950
how exactly the loan manager
knows what is happening.

742
00:35:59,557 --> 00:36:02,025
I think the most interesting
proof they have

743
00:36:02,027 --> 00:36:06,830
is a seating chart
from the Abacus loan department.

744
00:36:06,832 --> 00:36:10,100


745
00:36:10,102 --> 00:36:14,437


746
00:36:14,439 --> 00:36:17,741
Loan officers
who have been charged

747
00:36:17,743 --> 00:36:19,543
spread around the floor,

748
00:36:19,545 --> 00:36:21,444
and somewhere in the middle

749
00:36:21,446 --> 00:36:23,914
is a loan office manager.

750
00:36:23,916 --> 00:36:25,182
This is all happening

751
00:36:25,184 --> 00:36:27,784
around Pak Tam's table.

752
00:36:27,786 --> 00:36:30,387
How he will not be aware of
from this type of behavior

753
00:36:30,389 --> 00:36:33,356
currently happening
every day regularly?

754
00:36:33,358 --> 00:36:35,158
It's not so simple

755
00:36:35,160 --> 00:36:36,626
as they want
you believe

756
00:36:36,628 --> 00:36:39,629
as a simple image
to where someone is sitting.

757
00:36:39,631 --> 00:36:42,132
But above that,
they bring Ken Yu,

758
00:36:42,134 --> 00:36:43,567
who is a perfect liar,

759
00:36:43,569 --> 00:36:46,269
and he speaks in a different language
than Mr. Tam.

760
00:36:46,271 --> 00:36:47,971
He does business
outside the bank.

761
00:36:47,973 --> 00:36:49,973
Actually, at one point,
they cross-checked Ken

762
00:36:49,975 --> 00:36:52,609
because Ken said,
"oh, that person gave me cash.

763
00:36:52,611 --> 00:36:54,177
I am counting
from my table. "

764
00:36:54,179 --> 00:36:56,646
When the borrower
comes to testify,

765
00:36:56,648 --> 00:36:57,881
the borrower says," no.

766
00:36:57,883 --> 00:37:00,650
I met him at the lobby
from the bank. "

767
00:37:00,652 --> 00:37:02,252
We are able to show

768
00:37:02,254 --> 00:37:05,989
that loan officers
are taking steps

769
00:37:05,991 --> 00:37:08,558
to hide their mistakes
from underwriters

770
00:37:08,560 --> 00:37:11,294
and more senior levels
banks.

771
00:37:11,296 --> 00:37:13,196
They will stop talking
when a guarantor

772
00:37:13,198 --> 00:37:14,731
will come to the floor.

773
00:37:14,733 --> 00:37:16,733
They will falsify signatures
to make sure

774
00:37:16,735 --> 00:37:18,735
signatures will match.

775
00:37:18,737 --> 00:37:21,037
When guarantor
sees the file,

776
00:37:21,039 --> 00:37:24,140
everything will look normal.

777
00:37:24,142 --> 00:37:27,510
If the borrower
told me that she works at a local food store

778
00:37:27,512 --> 00:37:31,281
and income for tax returns is
$ 300 per week,

779
00:37:31,283 --> 00:37:34,284
it's not enough
to get a mortgage loan from us,

780
00:37:34,286 --> 00:37:36,052
but instead of rejecting it,

781
00:37:36,054 --> 00:37:38,655
what I will do is ask
"is there an employer

782
00:37:38,657 --> 00:37:41,024
who can verify
higher income?"

783
00:37:41,026 --> 00:37:43,326
And when will you record that information,

784
00:37:43,328 --> 00:37:45,695
do you believe that
honest?

785
00:37:45,697 --> 00:37:46,663
Of course not.

786
00:37:46,665 --> 00:37:48,698
And who is trained by you?

787
00:37:48,700 --> 00:37:53,003
It will be Mr. Tam
and Mr. Wong.

788
00:37:53,005 --> 00:37:54,904
That doesn't make sense.

789
00:37:54,906 --> 00:37:57,274
You have a loan initiator
that will be created

790
00:37:57,276 --> 00:37:59,576
commission by getting this
loan through,

791
00:37:59,578 --> 00:38:02,679
and then you have people like Mr Wong,

792
00:38:02,681 --> 00:38:05,849
who have no incentive at all
financially to do this.

793
00:38:05,851 --> 00:38:07,517
So they do everything
they can hide

794
00:38:07,519 --> 00:38:08,752
their crime
from Mr. Wong

795
00:38:08,754 --> 00:38:11,354
because they know
he is not involved

796
00:38:11,356 --> 00:38:12,922
and he will reject the loan,

797
00:38:12,924 --> 00:38:14,724
he did many times.

798
00:38:14,726 --> 00:38:16,126
He will reject people
where his income is

799
00:38:16,128 --> 00:38:17,427
cannot be verified

800
00:38:17,429 --> 00:38:18,561
or where does it feel

801
00:38:18,563 --> 00:38:20,530
the income doesn't make sense.

802
00:38:20,532 --> 00:38:22,032
There is one refusal he does

803
00:38:22,034 --> 00:38:25,268
where there are fake documents
he found,

804
00:38:25,270 --> 00:38:26,536
and refusal of loans

805
00:38:26,538 --> 00:38:29,039
the cost of the trigger
commission.

806
00:38:55,700 --> 00:38:58,702
I think people who go to the bank

807
00:38:58,704 --> 00:39:01,438
and get a loan no
fully understand maybe

808
00:39:01,440 --> 00:39:04,541
that what they do
lies,

809
00:39:04,543 --> 00:39:08,778
but I think it's finally
unwanted loser here

810
00:39:08,780 --> 00:39:11,314
are borrowers
in the community.

811
00:39:11,316 --> 00:39:15,552
We really contribute
to revive the community.

812
00:39:15,554 --> 00:39:20,657
This is really confusing
for him to say that.

813
00:39:20,659 --> 00:39:21,858
When the charges go down,

814
00:39:21,860 --> 00:39:25,128
Sung sees it
as an existential threat

815
00:39:25,130 --> 00:39:27,130
to the bank and rightly so

816
00:39:27,132 --> 00:39:28,631
because there are so many
institutions fail

817
00:39:28,633 --> 00:39:31,601
only... only from having the
indictment.

818
00:39:31,603 --> 00:39:35,372
Thomas, voice-over: Already
experienced a crisis in 2003

819
00:39:35,374 --> 00:39:37,907
which is almost closed
down the bank.

820
00:39:37,909 --> 00:39:39,242
There is still no sign

821
00:39:39,244 --> 00:39:40,577
from former Chinatowns
bank manager

822
00:39:40,579 --> 00:39:41,778
accused of embezzlement

823
00:39:41,780 --> 00:39:43,146
more than a million dollars.

824
00:39:43,148 --> 00:39:45,482
The FBI is looking for
Carol Lin,

825
00:39:45,484 --> 00:39:46,950
that manages the channel canal path

826
00:39:46,952 --> 00:39:48,385
Abacus Federal Savings.

827
00:39:48,387 --> 00:39:51,121
Suspicion of fraud
sent from a panic wave

828
00:39:51,123 --> 00:39:53,423
among bank customers.

829
00:39:53,425 --> 00:39:55,892
So in 2003, I happened to be doing

830
00:39:55,894 --> 00:39:57,527
a story in Chinatown.

831
00:39:57,529 --> 00:39:59,763
My photographer at that time
said to me,

832
00:39:59,765 --> 00:40:02,198
something happened on that block.

833
00:40:02,200 --> 00:40:04,134
Backwards, support it!
Back to the top!

834
00:40:04,136 --> 00:40:06,870
Chaos in Chinatown
as thousands of investors

835
00:40:06,872 --> 00:40:09,706
ran on Abacus
Federal Savings Bank,

836
00:40:09,708 --> 00:40:11,608
demand their money
after hearing

837
00:40:11,610 --> 00:40:14,110
that former bank manager
is being investigated

838
00:40:14,112 --> 00:40:15,845
to embezzle
One million dollars.

839
00:40:15,847 --> 00:40:18,314
When rumors spread
in the Asian community,

840
00:40:18,316 --> 00:40:20,550
run for the dough.

841
00:40:29,260 --> 00:40:31,494
Take a walk.
Go somewhere else.

842
00:40:31,496 --> 00:40:32,862
Do something else today.

843
00:40:32,864 --> 00:40:34,431
Police fight
to control the crowd,

844
00:40:34,433 --> 00:40:36,399
one even bitten
by an old woman

845
00:40:36,401 --> 00:40:37,834
demand money.

846
00:40:37,836 --> 00:40:40,837
Many struggle to avoid
being destroyed in the crowd.

847
00:40:40,839 --> 00:40:42,338
In that short time,

848
00:40:42,340 --> 00:40:45,842
people pull something
like $ 44 million,

849
00:40:45,844 --> 00:40:48,678
put us in a liquidity crisis.

850
00:40:48,680 --> 00:40:51,881
Press reports related to
that we haven't seen

851
00:40:51,883 --> 00:40:55,518
this type of run
since the thirties,

852
00:40:55,520 --> 00:40:57,320
since depression.

853
00:40:57,322 --> 00:40:59,556
Don't look now,
but something funny happens

854
00:40:59,558 --> 00:41:00,990
there at the bank, George.

855
00:41:00,992 --> 00:41:02,058
Hmm?

856
00:41:02,060 --> 00:41:03,460
I never really saw it,

857
00:41:03,462 --> 00:41:05,562
but it has all
characteristics to run.

858
00:41:08,799 --> 00:41:11,935
You have to understand
something about Thomas Sung.

859
00:41:11,937 --> 00:41:16,172
For me, he's like Jimmy Stewart
out of "it's a beautiful life."

860
00:41:16,174 --> 00:41:18,241
I'll be back for a while, Mary.

861
00:41:18,243 --> 00:41:22,111
He is a small town banker,
but the city is Chinatown.

862
00:41:24,248 --> 00:41:26,149
I go to the police department,

863
00:41:26,151 --> 00:41:28,885
asking them to give me a loudspeaker.

864
00:41:28,887 --> 00:41:33,756
I go on the phone,
and I say to them...

865
00:41:33,758 --> 00:41:35,558
"I'm here."

866
00:41:35,560 --> 00:41:37,660
You... you are thinking
this place is all wrong,

867
00:41:37,662 --> 00:41:39,662
as if I have money
back safely.

868
00:41:39,664 --> 00:41:41,064
Well, your money is
at Joe's house...

869
00:41:41,066 --> 00:41:42,565
it's right next to you...

870
00:41:42,567 --> 00:41:44,367
and at Kennedy's house
and Mrs.'s house. Maitland

871
00:41:44,369 --> 00:41:45,902
and another hundred!

872
00:41:45,904 --> 00:41:50,273
And I really left
and shook hands with them,

873
00:41:50,275 --> 00:41:54,511
"Feel my warm hands. I'm here.
I'm a real person."

874
00:41:54,513 --> 00:41:57,714
After I do that,
run down.

875
00:41:57,716 --> 00:41:59,782
Relatively calm in Chinatown,

876
00:41:59,784 --> 00:42:02,619
very contrast
for crazy rush Tuesday

877
00:42:02,621 --> 00:42:04,587
on Abacus
Federal Savings Bank...

878
00:42:04,589 --> 00:42:07,824
Bank CEO
reassures investors.

879
00:42:07,826 --> 00:42:10,560
They know that
everything is fine.

880
00:42:10,562 --> 00:42:14,364
People return.
They enter, deposit money.

881
00:42:14,366 --> 00:42:15,865
They thank us.

882
00:42:15,867 --> 00:42:19,369
If I don't have that relationship
with people,

883
00:42:19,371 --> 00:42:22,539
then I will be
much more worried

884
00:42:22,541 --> 00:42:26,576
that D.A.
accuse the bank.

885
00:42:26,578 --> 00:42:31,014
But if the verdict is guilty,
there is a possibility

886
00:42:31,016 --> 00:42:34,517
that Abacus will not survive.

887
00:42:34,519 --> 00:42:37,153
I have never supported it
with a bank.

888
00:42:37,155 --> 00:42:38,588
I have to be honest.

889
00:42:38,590 --> 00:42:41,157
I told my husband.
I said,
"banking is not good."

890
00:42:41,159 --> 00:42:44,360
I feel this is a problematic business.

891
00:42:44,362 --> 00:42:46,362
There are too many banks.

892
00:42:46,364 --> 00:42:48,197
You know, not everything
works.

893
00:42:48,199 --> 00:42:52,001
And not everyone will really
appreciate what happened,

894
00:42:52,003 --> 00:42:54,103
You know, if something
wrong with the bank.

895
00:42:54,105 --> 00:42:56,573
When you have fake documents,

896
00:42:56,575 --> 00:42:59,842
You increase the ability of Fannie Mae  to ask you
take back the loan.

897
00:42:59,844 --> 00:43:02,045


898
00:43:02,047 --> 00:43:05,081
I really feel my girls
have to go to do something else

899
00:43:05,083 --> 00:43:06,516
they want to do.

900
00:43:06,518 --> 00:43:09,519
I don't want it
to work at a bank,

901
00:43:09,521 --> 00:43:10,753
but they come in, you know,

902
00:43:10,755 --> 00:43:13,056
because they want
to help their father.

903
00:43:13,058 --> 00:43:14,624
They are very loyal to Tom.

904
00:43:14,626 --> 00:43:16,192
You agree that income and assets

905
00:43:16,194 --> 00:43:19,629
is a material fact
that must be accurately represented.

906
00:43:19,631 --> 00:43:23,032
Chanterelle, voice-over: So I've never,
until now, found motivation really

907
00:43:23,034 --> 00:43:24,601
to work in a bank.

908
00:43:24,603 --> 00:43:26,369
And this year,
when the trial begins,

909
00:43:26,371 --> 00:43:28,404
I just... I experienced
own nightmare.

910
00:43:28,406 --> 00:43:29,772
I mean, Vera and I
share rooms

911
00:43:29,774 --> 00:43:30,940
back to my parents' house in Connecticut,

912
00:43:30,942 --> 00:43:32,575
and we both
wake one another.

913
00:43:32,577 --> 00:43:35,378
And I... and I realize,
I, like, "I can't continue

914
00:43:35,380 --> 00:43:37,680
in my own career
now again."

915
00:43:37,682 --> 00:43:39,182
This, like, I have to
help my family now.

916
00:43:39,184 --> 00:43:40,883
- Because I think the law...
- no, I say...

917
00:43:40,885 --> 00:43:42,885
documents represent
material facts.

918
00:43:42,887 --> 00:43:45,855
I... I say if it's really material...
listen to me.

919
00:43:45,857 --> 00:43:48,891
If it's really material, the loan will fail.

920
00:43:48,893 --> 00:43:50,860
Differentiation might not make...

921
00:43:50,862 --> 00:43:52,929
Chanterelle, voice-over: I understand
sometimes it's very frustrating.

922
00:43:52,931 --> 00:43:55,031
This might be a factor
being the youngest.

923
00:43:55,033 --> 00:43:57,967
But sometimes I just, like,
whatever I say,

924
00:43:57,969 --> 00:43:59,335
it's just not heard.

925
00:43:59,337 --> 00:44:00,837
Papa, if that...
you are not convincing.

926
00:44:00,839 --> 00:44:02,739
If it's the shape...
if it's the shape

927
00:44:02,741 --> 00:44:04,207
you choose to use...
I will tell you what is the tongue on the cheek.

928
00:44:04,209 --> 00:44:05,842
Papa, if that...
he said, "there is no harm, there are no violations."

929
00:44:05,844 --> 00:44:07,443
If that's the form...
I never said that.

930
00:44:07,445 --> 00:44:09,245
Hold.
I have a question, daddy.
He said that.

931
00:44:09,247 --> 00:44:10,680
I don't say that.
If it's the form you choose to use...

932
00:44:10,682 --> 00:44:12,015
he uses the word.
To represent...

933
00:44:12,017 --> 00:44:13,583
- if that's the form...
- He uses that word.

934
00:44:13,585 --> 00:44:14,884
That's not... it's not true.

935
00:44:14,886 --> 00:44:16,753
I... I just told you...
I didn't use that...

936
00:44:16,755 --> 00:44:18,755
there is danger.
That is very difficult.

937
00:44:18,757 --> 00:44:20,223
Ok, there is nothing more I can say.

938
00:44:20,225 --> 00:44:21,424
Girls...

939
00:44:21,426 --> 00:44:24,060
This is my office.
Sorry.

940
00:44:24,062 --> 00:44:27,864
As you can see, my table
is now stacked very high,

941
00:44:27,866 --> 00:44:29,999
but I think that
is always messy.

942
00:44:30,001 --> 00:44:31,401
That's just my personality.

943
00:44:31,403 --> 00:44:33,870
My father always said,
"as a lawyer,

944
00:44:33,872 --> 00:44:36,873
You must be neat
and organized."

945
00:44:36,875 --> 00:44:40,343
Maybe I am not suitable
become a lawyer.

946
00:44:40,345 --> 00:44:43,112
Uh, is there something,
Tracy, on your desk,

947
00:44:43,114 --> 00:44:47,884
There is an urgent matter that I need to get
completed before the weekend?

948
00:44:47,886 --> 00:44:50,553
We have not experienced
many closures

949
00:44:50,555 --> 00:44:52,989
because of the effect
trial.

950
00:44:52,991 --> 00:44:54,857
I woke up at around 5:00 a.m.,

951
00:44:54,859 --> 00:44:56,859
complete work
very early in the morning,

952
00:44:56,861 --> 00:44:59,762
slamming all these e-mails
and answering e-mails

953
00:44:59,764 --> 00:45:03,833
and then go to court then
just returned to the office.

954
00:45:03,835 --> 00:45:05,868
I really tried to get it
more work is done at lunch,

955
00:45:05,870 --> 00:45:07,904
then we will do it
back to court.

956
00:45:12,576 --> 00:45:14,077
Have you ever told that person

957
00:45:14,079 --> 00:45:15,545
who you are talking to at Abacus Bank

958
00:45:15,547 --> 00:45:18,581
that you are a manager
in Becky's nail spa?

959
00:45:23,320 --> 00:45:24,754
I am not a manager.

960
00:45:24,756 --> 00:45:27,223
That person told me
that my income was very low,

961
00:45:27,225 --> 00:45:29,392
be better
I have to be a manager.

962
00:45:29,394 --> 00:45:31,561
Otherwise, I can't get a loan.

963
00:45:31,563 --> 00:45:33,596
Prosecution, repeatedly,

964
00:45:33,598 --> 00:45:36,733
trying to suggest it
innocent borrower,

965
00:45:36,735 --> 00:45:40,603
that it's a loan officer
that encourages borrowers

966
00:45:40,605 --> 00:45:43,239
falsify
documents to fulfill their loan conditions.

967
00:45:43,241 --> 00:45:47,110
In this loan file, why is it said
You're a manager?

968
00:45:47,112 --> 00:45:48,644
I don't know.

969
00:45:48,646 --> 00:45:50,680
Do you tell anyone
You're a manager?

970
00:45:50,682 --> 00:45:52,448
No.

971
00:45:52,450 --> 00:45:54,684
What can we show
with witness after witness,

972
00:45:54,686 --> 00:45:57,887
it's not just
loan officer.

973
00:45:57,889 --> 00:46:01,057
Borrowers try
to cheat banks

974
00:46:01,059 --> 00:46:03,392
to pay off a loan.

975
00:46:03,394 --> 00:46:05,828
Mr. Lin, already
sign your employer

976
00:46:05,830 --> 00:46:07,764
verification
work form

977
00:46:07,766 --> 00:46:09,265
for loan files,
Is that correct?

978
00:46:09,267 --> 00:46:10,767
Yes.

979
00:46:10,769 --> 00:46:12,869
And he signed as a joint owner of
from China Sun.

980
00:46:12,871 --> 00:46:16,005
Does anyone have that
restaurant with Mr. Pen?

981
00:46:16,007 --> 00:46:17,607
I really don't know.

982
00:46:17,609 --> 00:46:21,110
You don't know if
Shu Qin Lin is also a co-owner of

983
00:46:21,112 --> 00:46:22,612
from Chinese sun restaurants?

984
00:46:22,614 --> 00:46:24,881
I only met this
people several times.

985
00:46:24,883 --> 00:46:28,851
I don't know whether this person is
a restaurant owner or not.

986
00:46:28,853 --> 00:46:31,587
Shu qin Lin you
meet several times,

987
00:46:31,589 --> 00:46:33,489
and you don't know
is he the joint owner?

988
00:46:33,491 --> 00:46:36,225
They don't tell me.
I do not ask.

989
00:46:36,227 --> 00:46:41,764
Ok, Shu Qin Lin, spelled
S-h-u Q-i-n L-i-n.

990
00:46:41,766 --> 00:46:43,966
You don't know who that is?

991
00:46:43,968 --> 00:46:45,468
I know who it is.

992
00:46:45,470 --> 00:46:47,770
You know who it is.
So who is that?

993
00:46:47,772 --> 00:46:50,473
You can say,
he is like a sister.

994
00:46:50,475 --> 00:46:55,077
Is she like a sister,
or is she your sister?

995
00:46:55,079 --> 00:46:57,079
He is my sister.

996
00:46:58,582 --> 00:47:00,683
There are a series of witnesses

997
00:47:00,685 --> 00:47:05,555
which is only a heinous liar,

998
00:47:05,557 --> 00:47:07,857
to the point where
is our concern

999
00:47:07,859 --> 00:47:10,459
that jury
will think that

1000
00:47:10,461 --> 00:47:13,196
all those people
bank transactions with...

1001
00:47:13,198 --> 00:47:16,933
former employees and customers...
only full of dirt.

1002
00:47:19,870 --> 00:47:23,573
So, the trial has taken place
for the 9th week now, right?

1003
00:47:23,575 --> 00:47:25,508
Is this 9?
Day 52

1004
00:47:25,510 --> 00:47:27,376
Have you calculated?
Around day 52.

1005
00:47:27,378 --> 00:47:28,778
I have tracked
from the number of days

1006
00:47:28,780 --> 00:47:31,147
since... since the jury... yes.

1007
00:47:31,149 --> 00:47:32,381
That happened...
since 12 January.

1008
00:47:32,383 --> 00:47:33,850
I can't believe

1009
00:47:33,852 --> 00:47:36,786
how this can happen
dragged for so long.

1010
00:47:36,788 --> 00:47:41,724
Week of trial and costs involved...
Fees.

1011
00:47:41,726 --> 00:47:46,028
Millions of dollars are spent
to defend themselves.

1012
00:47:46,030 --> 00:47:49,365
And watch after watching...
of course they will know they are lying.

1013
00:47:49,367 --> 00:47:53,069
So you bring these people out,
day after day,

1014
00:47:53,071 --> 00:47:54,804
for 9 weeks,

1015
00:47:54,806 --> 00:47:58,341
and what are the effects
in the community?

1016
00:47:58,343 --> 00:48:00,576
People get the wrong impression,

1017
00:48:00,578 --> 00:48:03,713
the Chinese are
not law-abiding.

1018
00:48:03,715 --> 00:48:05,381
That... it's too bad.

1019
00:48:05,383 --> 00:48:09,418
Well, hopefully we can win this case
and make a statement.

1020
00:48:09,420 --> 00:48:12,755
Or even if you win the case...

1021
00:48:12,757 --> 00:48:14,357
Damage...

1022
00:48:14,359 --> 00:48:15,558
Well, for us...

1023
00:48:15,560 --> 00:48:18,494
shame on the community.

1024
00:48:30,974 --> 00:48:33,876
Chinese immigrants
come from culture

1025
00:48:33,878 --> 00:48:39,248
where lots of finances
transactions are based on trust

1026
00:48:39,250 --> 00:48:43,152
and believe it is not borne
by a piece of paper,

1027
00:48:43,154 --> 00:48:48,491
in that trust intimate understanding,
You know, among community members

1028
00:48:48,493 --> 00:48:50,660
or among family members.

1029
00:48:50,662 --> 00:48:58,067
I don't think there are borrowers
thinking that they really committed crime,

1030
00:48:58,069 --> 00:49:02,104
even if part of this loan
documents are forged.

1031
00:49:05,275 --> 00:49:07,677
One specific
individual has been approved

1032
00:49:07,679 --> 00:49:09,979
for a $ 800,000 mortgage loan,

1033
00:49:09,981 --> 00:49:14,450
but on their tax returns, they
only generate $ 24,000 per year

1034
00:49:14,452 --> 00:49:17,086
and I think this is
as a partner.

1035
00:49:17,088 --> 00:49:20,356
There are many breaths
on the jury panel.

1036
00:49:20,358 --> 00:49:21,991
How can this happen?

1037
00:49:21,993 --> 00:49:24,627
I know I will have it
hard time to enter the bank

1038
00:49:24,629 --> 00:49:29,565
and get approval, you know,
even for a few hundred thousand dollars for a loan.

1039
00:49:31,602 --> 00:49:35,204
Tax avoidance, I think lurking
in the background of this case.

1040
00:49:38,742 --> 00:49:41,510
Because they work mainly
in the money economy,

1041
00:49:41,512 --> 00:49:47,883
many borrowers have the money
they don't report to the IRS.

1042
00:49:47,885 --> 00:49:50,219
Only when they
buy a house

1043
00:49:50,221 --> 00:49:54,590
is it necessary for them
to prove how much money they have,

1044
00:49:54,592 --> 00:49:58,761
but then they are stuck in this position
don't have a paper trail.

1045
00:49:58,763 --> 00:50:02,064
Maybe people in that community
don't... don't pay, you know,

1046
00:50:02,066 --> 00:50:03,766
100% of their taxes.

1047
00:50:03,768 --> 00:50:07,503
These are all problems
if they have problems with, you know,

1048
00:50:07,505 --> 00:50:11,741
with immigrant communities
operating in cash, ok,

1049
00:50:11,743 --> 00:50:15,077
they have the means
to do something about it.

1050
00:50:15,079 --> 00:50:17,246
Um, IRS too.

1051
00:50:17,248 --> 00:50:19,148
Abacus is not the FBI.

1052
00:50:19,150 --> 00:50:23,886
There is no bank regulation
which requires banks to serve basically

1053
00:50:23,888 --> 00:50:27,757
as a police force
against its own customers.

1054
00:50:27,759 --> 00:50:30,426
There will be chaos if your bank
is basically an IRS.

1055
00:50:30,428 --> 00:50:32,628
No one wants
to bank with any bank.

1056
00:50:32,630 --> 00:50:35,197
You can say
that our responsibility

1057
00:50:35,199 --> 00:50:40,269
is giving credit to the community,
not being a police officer.

1058
00:50:40,271 --> 00:50:43,873
And I remember Mr. Sung saying this to me,
related to restaurants, you know.

1059
00:50:43,875 --> 00:50:48,577
He said, a man came to him
modernized his restaurant.

1060
00:50:48,579 --> 00:50:51,747
And he said, "I don't even need
to ask him... his income

1061
00:50:51,749 --> 00:50:54,884
"Because I eat at the restaurant,
and I see how full it is.

1062
00:50:54,886 --> 00:50:57,887
" So, you know, when he entered
and asked me for a loan,

1063
00:50:57,889 --> 00:51:00,089
I am ready to
give him money ". this.

1064
00:51:03,593 --> 00:51:05,861
Prosecutors insist
since the beginning of the trial written by
brothers or friends.

1065
00:51:05,863 --> 00:51:09,198
There is knowledge
throughout the loan department

1066
00:51:09,200 --> 00:51:12,501


1067
00:51:14,371 --> 00:51:17,940


1068
00:51:17,942 --> 00:51:23,212


1069
00:51:23,214 --> 00:51:28,350


1070
00:51:28,352 --> 00:51:33,122


1071
00:51:33,124 --> 00:51:36,158


1072
00:51:36,160 --> 00:51:40,362


1073
00:51:40,364 --> 00:51:43,432


1074
00:51:43,434 --> 00:51:45,334
And the source of the loan?

1075
00:51:45,336 --> 00:51:48,871
Money that comes from...
Who knows where.

1076
00:51:50,640 --> 00:51:52,408
In Chinese culture,

1077
00:51:52,410 --> 00:51:57,313
the limit between gift
and loan is very opaque,

1078
00:51:57,315 --> 00:52:00,883
to what extent there
isn't even really a difference

1079
00:52:00,885 --> 00:52:04,086
when it comes from you
your parents or relatives.

1080
00:52:04,088 --> 00:52:06,455
This is an immigrant
always done.

1081
00:52:06,457 --> 00:52:09,091
Jewish families do it.
The Irish family does it.

1082
00:52:09,093 --> 00:52:11,393
Italian families do it.
Chinese families do it.

1083
00:52:11,395 --> 00:52:14,964
If I accept, you know,
$ 50,000 from my mother,

1084
00:52:14,966 --> 00:52:19,235
there is no paper document that says
I have to return the amount.

1085
00:52:19,237 --> 00:52:23,072
But, you know, if I end up
taking care of him in his old age,

1086
00:52:23,074 --> 00:52:24,840
that is a form of payment,

1087
00:52:24,842 --> 00:52:29,578
and I remember sitting in the courtroom
Hearing how confused they were

1088
00:52:29,580 --> 00:52:31,680
when they answer
this question, when, you know,

1089
00:52:31,682 --> 00:52:33,249
repeatedly they are
squeezed.

1090
00:52:33,251 --> 00:52:36,752
You know, "is this a gift, or what is this
loan?
Can you explain?"

1091
00:52:36,754 --> 00:52:39,722
They say, "well, you know,
if I can repay it, I'll do it.

1092
00:52:39,724 --> 00:52:42,992
But, you know, if I... if I can't,
we are family."

1093
00:52:44,461 --> 00:52:47,029
So, the gift letter
actually has to be

1094
00:52:47,031 --> 00:52:49,598
from siblings or partners.

1095
00:52:49,600 --> 00:52:56,105
But comes to the surface that these loan officers
are sometimes registered as gift donors.

1096
00:52:58,208 --> 00:53:00,075
Mr. Yu,
above this

1097
00:53:00,077 --> 00:53:01,610
gift certificate certification,

1098
00:53:01,612 --> 00:53:05,080
it reads that you
made a $ 9,000 prize

1099
00:53:05,082 --> 00:53:07,583
for your cousin Qi Chen Chen.

1100
00:53:07,585 --> 00:53:10,252
Is Qi Zen Chen your cousin?

1101
00:53:10,254 --> 00:53:11,587
No.

1102
00:53:11,589 --> 00:53:15,691
Do you make a prize of $ 9,000 for Qi Zen Chen?

1103
00:53:15,693 --> 00:53:18,994
He gave me $ 9,000 cash,
and we went down

1104
00:53:18,996 --> 00:53:21,163
and get a certificate
bank check in his name.

1105
00:53:21,165 --> 00:53:26,335
Tell us how that can happen
Zen Zen Qi gives you $ 9,000

1106
00:53:26,337 --> 00:53:27,937
and then you give him a check.

1107
00:53:27,939 --> 00:53:31,140
This particular customer
does not have a credit score.

1108
00:53:31,142 --> 00:53:35,578
Can you tell us from this document
who approved this loan?

1109
00:53:35,580 --> 00:53:37,680
That will be
Miss Vera Sung.

1110
00:53:39,549 --> 00:53:43,052
If Ken Yu enters
the gift letter, "Ken Yu,"

1111
00:53:43,054 --> 00:53:45,020
it will interfere.

1112
00:53:45,022 --> 00:53:46,855
That's not what happened.

1113
00:53:46,857 --> 00:53:49,959
Ken's Chinese name is unknown,
but people just call him Ken.

1114
00:53:49,961 --> 00:53:52,261
Ken Yu clearly knows that

1115
00:53:52,263 --> 00:53:55,864
and deliberately put the Chinese name
on the check for that reason,

1116
00:53:55,866 --> 00:54:00,869
obscures that it is
who has given a "gift" to the borrower.

1117
00:54:00,871 --> 00:54:02,938
Mr. Yu, what is that?
commitment letters?

1118
00:54:02,940 --> 00:54:05,741
That the bank agrees
to give loans to this borrower

1119
00:54:05,743 --> 00:54:07,576
if all conditions are met.

1120
00:54:07,578 --> 00:54:10,646
Right.
And gift letters,
for example,

1121
00:54:10,648 --> 00:54:13,282
must be in file
before you close,

1122
00:54:13,284 --> 00:54:16,585
but not before the commitment letter comes out,
Isn't that right?

1123
00:54:16,587 --> 00:54:18,087
You are right, sir.

1124
00:54:18,089 --> 00:54:21,490
So verification of work
You help fake,

1125
00:54:21,492 --> 00:54:23,425
gift letters
You help fake,

1126
00:54:23,427 --> 00:54:28,564
done after Vera Sung approved this loan
on behalf of the board of directors,

1127
00:54:28,566 --> 00:54:30,065
Isn't that right?

1128
00:54:30,067 --> 00:54:34,503
In this case, yes.

1129
00:54:34,505 --> 00:54:38,807
It tries for us because
is a legacy of our father.

1130
00:54:38,809 --> 00:54:41,577
Exactly.
And he gave us that inheritance.

1131
00:54:41,579 --> 00:54:44,013
And Vera is always... when he
wants to be very meaningful to me,

1132
00:54:44,015 --> 00:54:46,949
he will show, "it happened
under your supervision, right?"

1133
00:54:46,951 --> 00:54:49,551
So he can be very evil to me.

1134
00:54:49,553 --> 00:54:52,054
He is like, "you! You know,
that happens under you..."

1135
00:54:52,056 --> 00:54:53,656
I'm like a cruel brother.

1136
00:54:53,658 --> 00:54:55,557
So, you know, then
I can sit there and be like,

1137
00:54:55,559 --> 00:54:58,060
"wow, you know,
I really failed."

1138
00:55:49,145 --> 00:55:51,780
So much time passed.

1139
00:55:51,782 --> 00:55:54,950
Our father is 75 years old,
and now he is 80 years old.

1140
00:55:54,952 --> 00:55:58,053
People don't understand...
there are some long-term effects

1141
00:55:58,055 --> 00:56:02,825
from through like that
traumatic experience.

1142
00:56:30,120 --> 00:56:33,655
"This bank will definitely continue
to find justification

1143
00:56:33,657 --> 00:56:36,825
" not only for the best
bank liberation itself,

1144
00:56:36,827 --> 00:56:39,395
"but for the greater
Chinese immigrant community

1145
00:56:39,397 --> 00:56:41,630
" It has been presented
for 31 years.

1146
00:56:41,632 --> 00:56:43,866
"Raw appearance
power by D.A.

1147
00:56:43,868 --> 00:56:46,869
" Will always remind us
and other minority communities

1148
00:56:46,871 --> 00:56:49,872
that our human rights
can easily be trampled. "

1149
00:56:49,874 --> 00:56:52,341
It's a bit counter intuitive
the way you write it.

1150
00:56:52,343 --> 00:56:55,010
You want to tell people
You can't let something bad happen...

1151
00:56:55,012 --> 00:56:57,212
exactly.
That's what I told him...

1152
00:56:57,214 --> 00:56:59,782
and that's how you say,
"Human rights can be easily trampled,"

1153
00:56:59,784 --> 00:57:02,050
and I don't read them...
I don't want people to think

1154
00:57:02,052 --> 00:57:04,553
You say that it can.

1155
00:57:04,555 --> 00:57:06,555
With in other words, it should be so
Normative sentences are not...

1156
00:57:06,557 --> 00:57:09,091
no no No
"Don't be trampled."

1157
00:57:09,093 --> 00:57:12,294
The cost has been great, but very different  per each family member

1158
00:57:12,296 --> 00:57:14,930
because we all handle stress
in a very different way.

1159
00:57:14,932 --> 00:57:17,966
Look, Chanterelle, this is all here,
but he changed my words again,

1160
00:57:17,968 --> 00:57:21,870
and then he doesn't do it
right here.

1161
00:57:21,872 --> 00:57:25,774
A little dry.

1162
00:57:27,578 --> 00:57:29,578
Because it's only chicken.

1163
00:57:29,580 --> 00:57:32,080
Not Mayo, that's why, right?

1164
00:57:32,082 --> 00:57:33,615
Mm-hmm.

1165
00:57:33,617 --> 00:57:35,083
But there is cheese.
Mm-hmm.

1166
00:57:35,085 --> 00:57:37,019
My father, in particular, is able to handle stress
in an extraordinary way.

1167
00:57:37,021 --> 00:57:41,557
If you... if you don't like your sandwich...
are you okay?

1168
00:57:41,559 --> 00:57:44,460
Good.
But you said it was dry.

1169
00:57:44,462 --> 00:57:47,229
Mm-hmm.

1170
00:57:47,231 --> 00:57:48,363
As you get older,

1171
00:57:49,733 --> 00:57:51,366
I think he feels that he
does what he wants to do.

1172
00:57:51,368 --> 00:57:55,704
Um, he's a little more
philosophical,

1173
00:57:55,706 --> 00:57:58,040


1174
00:57:58,042 --> 00:58:01,310
and find out that he's done
the best he can do

1175
00:58:01,312 --> 00:58:03,445
good for him.

1176
00:58:03,447 --> 00:58:04,780
If it's too much chicken,

1177
00:58:04,782 --> 00:58:06,315
You don't have to eat everything.
No I...

1178
00:58:06,317 --> 00:58:07,883
he said... he said that...
did it come with avocado?

1179
00:58:07,885 --> 00:58:09,585
He complains.
He said it was dry.

1180
00:58:09,587 --> 00:58:10,953
Do they put... oh, they
don't put mayonnaise.

1181
00:58:10,955 --> 00:58:12,321
They don't enter... yes,
but they put avocados,

1182
00:58:12,323 --> 00:58:13,622
Do they place avocados?

1183
00:58:13,624 --> 00:58:14,756
They put avocados,
but he said it was dry.

1184
00:58:14,758 --> 00:58:16,058
I ask him if you
want avocado.

1185
00:58:16,060 --> 00:58:17,326
Now go eat.

1186
00:58:17,328 --> 00:58:19,862
He said, "It's dry,
but I'm easy."

1187
00:58:19,864 --> 00:58:24,733
Like this.
He is very calm, and I am very...

1188
00:58:24,735 --> 00:58:28,704
I like to jump nuts.
I am always running around, you know.

1189
00:58:28,706 --> 00:58:32,274
Like that I am.
And that drives me crazy.

1190
00:58:32,276 --> 00:58:36,211
My mother, I think,
might feel the strongest things.

1191
00:58:36,213 --> 00:58:41,917
He's a very emotional person,
and I think defining himself,

1192
00:58:41,919 --> 00:58:46,755
for big titles, by
perception of others,

1193
00:58:46,757 --> 00:58:50,559
so... it hurts him.

1194
00:58:50,561 --> 00:58:52,661
I feel lost face.

1195
00:58:52,663 --> 00:58:54,763
You know, Chinese people always want to save their faces.

1196
00:58:54,765 --> 00:58:58,166
I am even embarrassed to see
my friends because no one knows...

1197
00:58:58,168 --> 00:59:00,602
I really don't know too much
about banking,

1198
00:59:00,604 --> 00:59:03,171
and how I'll do it
explain everything.

1199
00:59:03,173 --> 00:59:06,575
All I can say is,
we don't do it.

1200
00:59:06,577 --> 00:59:09,945
Yesterday was terrible,
very torturous, you know.

1201
00:59:09,947 --> 00:59:15,384
I can't stand with people
thinking of my children as bad as that, you know.

1202
00:59:15,386 --> 00:59:20,489
The prosecutor said that Jill was lying,
so it really bothered me.

1203
00:59:20,491 --> 00:59:22,124
I feel like screaming.

1204
00:59:22,126 --> 00:59:24,760
Of course, Vera always tells me,
"don't talk, don't move,"

1205
00:59:24,762 --> 00:59:28,297
so I have to sit there with
just... press myself, you know.

1206
00:59:28,299 --> 00:59:31,466
That's why I couldn't even have lunch yesterday.
I have stomach ache.

1207
00:59:35,805 --> 00:59:39,741
Ms Rome, is a federal
national mortgage association,

1208
00:59:39,743 --> 00:59:43,879
or known as Fannie Mae,
in a business to make money?

1209
00:59:43,881 --> 00:59:47,182
Fannie Mae is in this business
providing home ownership

1210
00:59:47,184 --> 00:59:51,553
and, as a result,
Fannie Mae does make money, huh.

1211
00:59:51,555 --> 00:59:55,390
All of these cases in the end
come to Fannie Mae.

1212
00:59:55,392 --> 00:59:58,260
Fannie Mae was accused of being a victim in this case.

1213
00:59:58,262 --> 01:00:00,395
Reasons for prosecution

1214
01:00:00,397 --> 01:00:02,831
is 30 loans
which are in charge

1215
01:00:02,833 --> 01:00:05,934
what we sell to Fannie Mae
is not good,

1216
01:00:05,936 --> 01:00:10,973
because the documentation itself
is not what it should be.

1217
01:00:10,975 --> 01:00:12,941
The bank can do it
whatever it wants.

1218
01:00:12,943 --> 01:00:15,877
The bank can save the loan, it can serve the loan

1219
01:00:15,879 --> 01:00:18,213
and don't care
about documentation.

1220
01:00:18,215 --> 01:00:22,985
That is the choice of the bank...
save or sell.

1221
01:00:22,987 --> 01:00:24,152
He chooses to sell it.

1222
01:00:24,154 --> 01:00:26,021
In selling loans
to Fannie Mae,

1223
01:00:26,023 --> 01:00:29,358
they only miss that risk
to buyers who don't know.

1224
01:00:29,360 --> 01:00:33,328
Ms Rome, Fannie Mae doesn't want to lose money, right?

1225
01:00:33,330 --> 01:00:38,567
Absolutely not.
And that doesn't want
our lenders also lose money.

1226
01:00:38,569 --> 01:00:42,237
And you are familiar with the default level
Abacus loans

1227
01:00:42,239 --> 01:00:44,072
during the
indictment period, right?

1228
01:00:44,074 --> 01:00:45,741
Yes, right.

1229
01:00:45,743 --> 01:00:49,544
During a period of 5 years
from alleged fraud,

1230
01:00:49,546 --> 01:00:53,382
Abacus sold a little
3,000 mortgage for Fannie Mae.

1231
01:00:53,384 --> 01:01:01,056
The default number of 3,000 people is 9 people.

1232
01:01:01,058 --> 01:01:02,624
9!

1233
01:01:02,626 --> 01:01:06,161
Are you saying that
is a low default level?

1234
01:01:06,163 --> 01:01:08,363
Default level is low.

1235
01:01:08,365 --> 01:01:10,999
Do you say that
is low microscopically?

1236
01:01:11,001 --> 01:01:13,068
Objection to
characterization!

1237
01:01:13,070 --> 01:01:15,771
Supported for
"microscopic."

1238
01:01:15,773 --> 01:01:17,539
Abacus Federal Savings Bank

1239
01:01:17,541 --> 01:01:20,175
has one of the lowest level
nation,

1240
01:01:20,177 --> 01:01:22,244
not the highest,
one of the lowest.

1241
01:01:22,246 --> 01:01:24,880
But that
is not what we see.

1242
01:01:24,882 --> 01:01:29,117
We are looking at, you know,
is there falsified information,

1243
01:01:29,119 --> 01:01:30,986
and sold, and that.

1244
01:01:30,988 --> 01:01:34,489
These loans are never lost
money.
They appear.

1245
01:01:34,491 --> 01:01:37,325
It is financially clear
who benefits?  is Fannie Mae
from the transaction.

1246
01:01:37,327 --> 01:01:39,361
People get their loans.
They get their home.

1247
01:01:39,363 --> 01:01:41,163
That... it's almost ridiculous!
That is almost totally ridiculous!

1248
01:01:41,165 --> 01:01:45,167
Larceny is about stealing.

1249
01:01:45,169 --> 01:01:47,803
To bring theft charges
against banks

1250
01:01:47,805 --> 01:01:50,172
when should victims
actually generate hundreds of millions of dollars,

1251
01:01:50,174 --> 01:01:55,077
that is just... it's outrageous.

1252
01:01:55,079 --> 01:01:56,912
My view is, if I take $ 5.00
from your wallet,

1253
01:01:56,914 --> 01:02:01,550
uh, I've taken your money.

1254
01:02:01,552 --> 01:02:03,385
If I... In the end,
if I give it back to you,

1255
01:02:03,387 --> 01:02:07,456
or if not,
in the end,

1256
01:02:07,458 --> 01:02:09,658
actually has a loss because
the money returns to you,

1257
01:02:09,660 --> 01:02:12,828


1258
01:02:12,830 --> 01:02:15,430
it's still,
in our view, a theft.

1259
01:02:15,432 --> 01:02:17,699
If I sell Fannie Mae
loans for $ 5.00,

1260
01:02:17,701 --> 01:02:20,035
not only do they get
$ 5.00 they return on time,

1261
01:02:20,037 --> 01:02:21,837
like what they think
they will get it,

1262
01:02:21,839 --> 01:02:25,173
they also get $ 3.00 to $ 4.00,
$ 5.00 return interest,

1263
01:02:25,175 --> 01:02:29,077
that makes it $ 10, so tell me
how it's considered theft.

1264
01:02:37,520 --> 01:02:39,554
There are two types
mortgage fraud

1265
01:02:39,556 --> 01:02:41,423
which generally happens.

1266
01:02:41,425 --> 01:02:44,559
We call it fraud-for-profit
and fraud for home.

1267
01:02:44,561 --> 01:02:47,529
There are certain numbers of people who commit crimes  mortgage fraud because
they lie on their application

1268
01:02:47,531 --> 01:02:49,865
to get a loan for the house
they want to live in.

1269
01:02:49,867 --> 01:02:52,734
Is it technically a crime?
Correct.

1270
01:02:52,736 --> 01:02:55,504


1271
01:02:55,506 --> 01:03:01,076
Is that crime worth of resources
from state or federal government?
Absolutely not.

1272
01:03:01,078 --> 01:03:03,712
This has a low default level
in this type of loan.

1273
01:03:03,714 --> 01:03:06,014
The losses are relatively small.

1274
01:03:06,016 --> 01:03:09,451
Other types of fraud, fraud
where there really is no

1275
01:03:09,453 --> 01:03:11,453
any intention
to pay the mortgage,

1276
01:03:11,455 --> 01:03:13,889
it's just about making a profit
as fast as possible,

1277
01:03:13,891 --> 01:03:17,893
or fraud that enters this
complex securities built,

1278
01:03:17,895 --> 01:03:20,562
when that knowledge exists
there is little chance of it

1279
01:03:20,564 --> 01:03:22,564
this loan
will be repaid,

1280
01:03:22,566 --> 01:03:24,566
this is where
resources must go.

1281
01:03:24,568 --> 01:03:26,134
And throw you
raise your hand in the air

1282
01:03:26,136 --> 01:03:29,271
and suggest that, well, gee,
whenever crime is committed,

1283
01:03:29,273 --> 01:03:31,773
we put all our resources in
to prove it, that's not true.

1284
01:03:31,775 --> 01:03:34,109
I mean, today, walk
to my office,

1285
01:03:34,111 --> 01:03:36,611
red light.
And I admit,

1286
01:03:36,613 --> 01:03:38,880
I walk across the road
against red lights.

1287
01:03:38,882 --> 01:03:42,984
I am really guilty of doing jaywalking,
and I can get a ticket.

1288
01:03:42,986 --> 01:03:44,352
Do I get it?
No.

1289
01:03:44,354 --> 01:03:46,855
That must be complete
waste of NYPD resources

1290
01:03:46,857 --> 01:03:49,324
to issue me tickets and
divert them from actual crime

1291
01:03:49,326 --> 01:03:50,826
that happened in the city,

1292
01:03:50,828 --> 01:03:53,061
and that's where everything
returns to this...

1293
01:03:53,063 --> 01:03:54,863
this... this wisdom idea.

1294
01:03:54,865 --> 01:03:59,067
And regulators and prosecutors
must act with the necessary wisdom

1295
01:03:59,069 --> 01:04:01,636
when to file a claim
and when not to bring charges.

1296
01:04:01,638 --> 01:04:05,774
Neil of course
is entitled to his opinion.

1297
01:04:05,776 --> 01:04:08,443
Uh, I...

1298
01:04:08,445 --> 01:04:10,512
Disagree
with characterization

1299
01:04:10,514 --> 01:04:13,582
that this is jaywalking

1300
01:04:13,584 --> 01:04:16,718
because I think it's
systemic and in the long run,

1301
01:04:16,720 --> 01:04:20,455
and finally the risk
passed without notice to...

1302
01:04:20,457 --> 01:04:22,290
You know, to third parties.

1303
01:04:22,292 --> 01:04:26,862
Maybe there should be a penalty for setting
for this type of behavior,

1304
01:04:26,864 --> 01:04:30,832
without question, but
who's hurt?
Who loses money?

1305
01:04:30,834 --> 01:04:33,568
Who is... the taxpayers who are hurt?

1306
01:04:33,570 --> 01:04:35,737
Who are the investors
who are injured?

1307
01:04:35,739 --> 01:04:38,106
Who are the individuals who have lost their homes?

1308
01:04:38,108 --> 01:04:41,176
Who are the people who cheated
into mortgages they cannot afford

1309
01:04:41,178 --> 01:04:42,477
and thrown out
on the road?

1310
01:04:42,479 --> 01:04:44,212
Who loses their life savings?

1311
01:04:44,214 --> 01:04:45,881
What financial system collapsed?

1312
01:04:45,883 --> 01:04:49,718
What is GDP affected because of the actions taken by Abacus?

1313
01:04:49,720 --> 01:04:51,820
And as far as I know, nothing.

1314
01:04:51,822 --> 01:04:57,425
Frankly, if every bank has...
has been covered and Abacus

1315
01:04:57,427 --> 01:05:00,862
during the indictment period,
we will not experience a financial crisis.

1316
01:05:02,865 --> 01:05:07,602
We really need to talk
about one problem now,

1317
01:05:07,604 --> 01:05:10,906
that is whether or not
we have to testify Jill.

1318
01:05:10,908 --> 01:05:13,975
Very difficult,
as we continue to switch back and forth.

1319
01:05:13,977 --> 01:05:17,879
Since yesterday, Rusty believed that
he had to testify.

1320
01:05:17,881 --> 01:05:20,048
Kevin, take a different position.

1321
01:05:20,050 --> 01:05:22,117
He is a little more hesitant.
Right.

1322
01:05:22,119 --> 01:05:24,552
And daddy feels so far
that Jill must testify.

1323
01:05:24,554 --> 01:05:26,888
Actually, rusting and daddy
have the same opinion.

1324
01:05:30,059 --> 01:05:31,359
And I-

1325
01:05:37,600 --> 01:05:41,569
right.
And he thinks so
a jury might not feel much  towards a corporate institution,

1326
01:05:41,571 --> 01:05:44,105
whereas if you put a personal face to it,
like Jill,

1327
01:05:44,107 --> 01:05:47,575


1328
01:05:47,577 --> 01:05:51,880
they will start to see and
feel and realize that

1329
01:05:51,882 --> 01:05:54,883
the consequences of
belief are... serious.

1330
01:05:54,885 --> 01:06:00,055
However, others believe
that if they don't make their case

1331
01:06:00,057 --> 01:06:02,757
then you stop there.

1332
01:06:02,759 --> 01:06:07,062
Also, there is nothing really said about Jill...
right.

1333
01:06:07,064 --> 01:06:08,863
To imply it in everything.

1334
01:06:08,865 --> 01:06:12,901
Right.
I feel that I haven't done it
hear the reason for using Jill.

1335
01:06:12,903 --> 01:06:14,803
In fact, if you
don't use him,

1336
01:06:14,805 --> 01:06:17,572
not because you tried
hiding anything, but because

1337
01:06:17,574 --> 01:06:19,007
nothing... no...
nothing needs to be maintained.

1338
01:06:19,009 --> 01:06:20,508
Nothing has to be maintained.

1339
01:06:20,510 --> 01:06:23,578
Excuse me!
Excuse me!
Am I in voice or what?

1340
01:06:23,580 --> 01:06:25,780
Yes.
Yes.
The mother is talking.

1341
01:06:28,150 --> 01:06:30,952
That's a very good question.
He isn't here now.

1342
01:06:30,954 --> 01:06:33,521
He doesn't even want to have it
this conversation yesterday.

1343
01:06:33,523 --> 01:06:37,859
The feeling we get from him
is that if he needs to testify he will,

1344
01:06:37,861 --> 01:06:41,763
but he will feel bad
if somehow he doesn't testify well

1345
01:06:41,765 --> 01:06:47,836
and that will produce
in negative results, um.

1346
01:06:47,838 --> 01:06:50,171
Yes, he will...
he will blame himself.

1347
01:06:50,173 --> 01:06:54,709
I just want... daddy,
I know you feel strong about Jill testifying,

1348
01:06:54,711 --> 01:06:57,779
and I feel that
the same way, but one...

1349
01:06:59,081 --> 01:07:02,784
are you no longer?
Good.

1350
01:07:02,786 --> 01:07:05,520
Good.
Have changed your mind.

1351
01:07:05,522 --> 01:07:07,555
Yes, change your mind.
Yes.

1352
01:07:07,557 --> 01:07:12,027
So how do we feel if Jill
doesn't take a stand

1353
01:07:12,029 --> 01:07:15,897
and we don't win this case?

1354
01:07:15,899 --> 01:07:17,565
Will we regret it?

1355
01:07:17,567 --> 01:07:19,534
I can answer it,
I can answer it.

1356
01:07:19,536 --> 01:07:26,574
I have given this problem
careful and thorough analysis.

1357
01:07:26,576 --> 01:07:30,578
If the results aren't for me,

1358
01:07:30,580 --> 01:07:35,083
I don't and shouldn't
feel sorry.

1359
01:07:43,859 --> 01:07:46,728
They say,
that's their theory,

1360
01:07:46,730 --> 01:07:50,131
that such documents
are very clearly wrong,

1361
01:07:50,133 --> 01:07:54,636
Mr. Tam and Mr. Wong and other banks
underwriters should arrest that,

1362
01:07:54,638 --> 01:08:00,608
and the fact that they did not catch it
suggested that they be involved in fraud.

1363
01:08:00,610 --> 01:08:03,445
That's what they say to you,
women and men.

1364
01:08:03,447 --> 01:08:06,548
But here's the problem.
Fannie Mae,

1365
01:08:06,550 --> 01:08:11,319
the best underwriter in the country,
everything they do, all day, every day,

1366
01:08:11,321 --> 01:08:14,122
is seeing loan files from
throughout the country.

1367
01:08:14,124 --> 01:08:19,360
They are the gold standard, and they don't see
anything wrong with these documents.

1368
01:08:19,362 --> 01:08:24,065
So, if the best is not wrong,
how can it be criminal?

1369
01:08:24,067 --> 01:08:26,568
This is not.

1370
01:08:26,570 --> 01:08:28,069
And here, I'll do it
show it again,

1371
01:08:28,071 --> 01:08:30,405
Email Fannie Mae from 2012,

1372
01:08:30,407 --> 01:08:31,840
because it gives light

1373
01:08:31,842 --> 01:08:33,875
about this problem.

1374
01:08:33,877 --> 01:08:36,878
"We recognize that you have it
very unique needs

1375
01:08:36,880 --> 01:08:40,148
" which are closely related
to the borrower you serve.

1376
01:08:40,150 --> 01:08:43,084
"When doing something adjusted
in this environment

1377
01:08:43,086 --> 01:08:44,786
" is very difficult,

1378
01:08:44,788 --> 01:08:47,122
"The team committed to
do whatever we can

1379
01:08:47,124 --> 01:08:53,061
to develop solutions that are appropriate
unique needs of your culture."

1380
01:08:54,330 --> 01:08:57,265
Women and men,
Fannie Mae himself

1381
01:08:57,267 --> 01:09:00,568
admit here
this is Chinatown.

1382
01:09:00,570 --> 01:09:03,872
That's a thousand small
business, first generation,

1383
01:09:03,874 --> 01:09:08,877
special needs... and
banks serve the community.

1384
01:09:08,879 --> 01:09:11,880
Does it pose a challenge
to the bank?
Correct.

1385
01:09:11,882 --> 01:09:15,917
It will be much easier to handle
a group of investment bankers

1386
01:09:15,919 --> 01:09:18,653
who have w2s and
tax returns all the time.

1387
01:09:18,655 --> 01:09:22,423
It will be easier,
but the bank has chosen to serve

1388
01:09:22,425 --> 01:09:25,360
this community,
challenge and all.

1389
01:09:30,299 --> 01:09:34,068
Abacus's own narrative
that they are trying to give you

1390
01:09:34,070 --> 01:09:37,238
is what they tried
helping hard workers,

1391
01:09:37,240 --> 01:09:42,243
first generation immigrants live
American dreams as community services.

1392
01:09:42,245 --> 01:09:46,714
That's awesome, and that's great,
and Abacus Federal Savings Bank

1393
01:09:46,716 --> 01:09:51,219
free to do that and then hold
risk on their own book.

1394
01:09:51,221 --> 01:09:57,358
What they are not free to do is risk
with other people's money and not tell them.

1395
01:09:57,360 --> 01:10:04,098
They can't take that risk and pass it on to others without telling the truth.

1396
01:10:21,550 --> 01:10:23,851
Thank you.
5... 6 bowls.
6 bowls.

1397
01:10:23,853 --> 01:10:26,554
And then he tried
to say that this loan

1398
01:10:26,556 --> 01:10:29,958
It seems representative of
of our entire loan portfolio,

1399
01:10:29,960 --> 01:10:31,392
it's not true.

1400
01:10:31,394 --> 01:10:34,195
He really rolled his eyes...
in your mission

1401
01:10:34,197 --> 01:10:36,864
and build this bank for this community,
to serve the community

1402
01:10:36,866 --> 01:10:39,067
and help these people
look for American dreams.

1403
01:10:39,069 --> 01:10:40,501
He just throws it away.

1404
01:10:40,503 --> 01:10:42,036
Isn't that lucky, at my age now,

1405
01:10:42,038 --> 01:10:44,872
I can barely hear everything that is said in court?

1406
01:10:44,874 --> 01:10:46,174
- That's because you...
- it's a blessing.

1407
01:10:46,176 --> 01:10:47,809
Selective hearing.

1408
01:10:47,811 --> 01:10:49,177
Do you observe in the beginning

1409
01:10:49,179 --> 01:10:51,479
that is respectable
Cy Vance himself

1410
01:10:51,481 --> 01:10:53,081
attend the beginning?

1411
01:10:53,083 --> 01:10:54,549
I don't see it.

1412
01:10:54,551 --> 01:10:57,051
I have seen it on TV,

1413
01:10:57,053 --> 01:10:59,420
and he is a lot smaller
personally.

1414
01:10:59,422 --> 01:11:00,922
Ha ha!
Yes!

1415
01:11:00,924 --> 01:11:03,758
As a family
we are always very close,

1416
01:11:03,760 --> 01:11:08,663
but we've been united even more
during this very good time.

1417
01:11:08,665 --> 01:11:10,064
Why are you laughing at me?

1418
01:11:10,066 --> 01:11:11,299
He cries,

1419
01:11:11,301 --> 01:11:13,067
and now he
laughs out loud.

1420
01:11:13,069 --> 01:11:15,303
Judge
Sounds like "godfather."

1421
01:11:15,305 --> 01:11:18,873
No, he said he had to save his voice
for the cost of the jury

1422
01:11:18,875 --> 01:11:20,708
Because it will happen
within a few hours.

1423
01:11:20,710 --> 01:11:24,078
Are you not eating? What kind of rice?
Are you on a diet?

1424
01:11:24,080 --> 01:11:25,780
No, not me.

1425
01:11:28,250 --> 01:11:34,289
Each defendant is accused of
20 major theft charges at the second level,

1426
01:11:34,291 --> 01:11:37,058
one big theft count
in the first level,

1427
01:11:37,060 --> 01:11:40,561
48 allegations of falsifying business records
in the first level,

1428
01:11:40,563 --> 01:11:43,965
9 number of housing mortgages
fraud in the second level,

1429
01:11:43,967 --> 01:11:47,635
1 count of housing mortgages
fraud in the first level,

1430
01:11:47,637 --> 01:11:51,973
and one conspiracy charge
in the fourth level.

1431
01:11:51,975 --> 01:11:54,175
Jury, your responsibility
in this case

1432
01:11:54,177 --> 01:11:56,577
very important;

1433
01:11:56,579 --> 01:11:59,047
However, it's limited to
for this case.

1434
01:11:59,049 --> 01:12:01,949
You have not been asked
for some general assessments

1435
01:12:01,951 --> 01:12:05,853
corporate governance in America
or whether the bank is good or not.

1436
01:12:05,855 --> 01:12:08,356
You are not here to send
messages to anyone.

1437
01:12:08,358 --> 01:12:12,560
You are here to determine whether people
have been proven, without a doubt,

1438
01:12:12,562 --> 01:12:14,262
that the defendant
is here tried

1439
01:12:14,264 --> 01:12:19,067
guilty of one or more
crimes charged in this case.

1440
01:12:47,830 --> 01:12:49,864
If they go
to defend us all,

1441
01:12:49,866 --> 01:12:52,567
We hope that happens quickly,
Do you know what I mean?

1442
01:12:52,569 --> 01:12:54,502
And like, "oh, we heard this
proof.
It's not worth it."

1443
01:12:54,504 --> 01:12:56,070
Just confirm everyone.

1444
01:13:14,857 --> 01:13:18,559
This is really
when shooting nerves,

1445
01:13:18,561 --> 01:13:22,497
do not know what
jury will decide

1446
01:13:22,499 --> 01:13:26,367
and wonder how they
haven't returned.

1447
01:13:50,359 --> 01:13:56,364
At this point, now,
I think that really bothered me.

1448
01:13:56,366 --> 01:14:03,070
This is like, why can't they see it
what seems so clear in the trial?

1449
01:14:08,977 --> 01:14:12,246
Hate waiting in court.
It's boring and annoying.

1450
01:14:12,248 --> 01:14:16,784
I prefer to do work,
but our lawyers want us to be here in court.

1451
01:14:16,786 --> 01:14:19,287
If the jury has a question,
they want the jury to see it

1452
01:14:19,289 --> 01:14:22,356
we are still here and we can help
select the document.

1453
01:14:22,358 --> 01:14:26,360
So, I have to bring a lot of
working-work picnic baskets.

1454
01:14:28,797 --> 01:14:31,566
Day by day,
jury does not return.

1455
01:14:31,568 --> 01:14:35,036
And, actually, the jury
asks for various documents -

1456
01:14:35,038 --> 01:14:40,775
some, you know, are not profitable for prosecution,
some are not profitable for defense.

1457
01:14:40,777 --> 01:14:43,044
First note back,
and they say

1458
01:14:43,046 --> 01:14:46,581
they want a loan list
that D.A. is claiming it's bad.

1459
01:14:46,583 --> 01:14:50,384
And then they want all
loan files for that loan.

1460
01:14:50,386 --> 01:14:53,221
And then they want it
all rejection files.

1461
01:14:53,223 --> 01:14:55,990
It arrived at the point
when we really tried to analyze

1462
01:14:55,992 --> 01:14:58,025
handwritten on note.

1463
01:14:58,027 --> 01:15:00,661
We all know we don't do anything.
That... that... that's...

1464
01:15:00,663 --> 01:15:06,067
I mean, it's impossible
we were found guilty of all charges.

1465
01:15:06,069 --> 01:15:07,568
That is impossible.

1466
01:15:07,570 --> 01:15:10,872
We are driving ourselves
angry trying to speculate,

1467
01:15:10,874 --> 01:15:13,708
"oh, this person
must think about this,"

1468
01:15:13,710 --> 01:15:16,911
and maybe they are thinking
just the opposite.

1469
01:15:16,913 --> 01:15:21,582
There are 3 different opportunities
where we are hanged judges.

1470
01:15:21,584 --> 01:15:24,785
Everyone feels very strong
in their view of it

1471
01:15:24,787 --> 01:15:28,789
and good, substantial
is enough evidence why.

1472
01:15:28,791 --> 01:15:30,992
Existing facts
have made a mistake at the bank,

1473
01:15:30,994 --> 01:15:32,527
not really in dispute.

1474
01:15:32,529 --> 01:15:33,828
The real essence of this case

1475
01:15:33,830 --> 01:15:36,464
can you link it
What has happened

1476
01:15:36,466 --> 01:15:39,967
for Mr. Wong, Mr. Tam,
and Jill Sung.

1477
01:15:39,969 --> 01:15:44,405
Where we have the hardest time,
is a forged business record

1478
01:15:44,407 --> 01:15:46,140
and therefore there are
too many hands

1479
01:15:46,142 --> 01:15:50,578
touched in all bank
for credit approval process

1480
01:15:50,580 --> 01:15:52,380
for things that are not noticed.

1481
01:15:52,382 --> 01:15:56,384
So, for me, it's called
being the big question is,

1482
01:15:56,386 --> 01:15:58,553
is there a conspiracy behind this.

1483
01:15:58,555 --> 01:16:00,721
There is one specific
jury, not Jessica,

1484
01:16:00,723 --> 01:16:04,125
who feel that we are judges
sort of a broader responsibility

1485
01:16:04,127 --> 01:16:07,562
remember the context
financial crisis of 2008,

1486
01:16:07,564 --> 01:16:09,864
to make an example
out of this bank,

1487
01:16:09,866 --> 01:16:15,870
that somehow we do
harm to... to the public,

1488
01:16:15,872 --> 01:16:20,808
for possible criminal justice system,
by letting them run freely.

1489
01:16:20,810 --> 01:16:23,444
We sent the note
on June 3 to the judge

1490
01:16:23,446 --> 01:16:26,247
that we are desperate
dead.

1491
01:16:26,249 --> 01:16:28,583
8 is on the innocent side.

1492
01:16:28,585 --> 01:16:30,651
4 guilty,

1493
01:16:30,653 --> 01:16:33,220
and I am one of 4
in the guilty.

1494
01:16:41,363 --> 01:16:44,098
Hello?
Hi.
Good.

1495
01:16:44,100 --> 01:16:46,300
So they were dismissed today,

1496
01:16:46,302 --> 01:16:48,302
and they return
with a note again

1497
01:16:48,304 --> 01:16:49,570
say that they are deadlocked

1498
01:16:49,572 --> 01:16:52,540
and both parties insist.

1499
01:16:52,542 --> 01:16:54,408
And one of the judges
actually came out,

1500
01:16:54,410 --> 01:16:56,711
and he already told us
yesterday

1501
01:16:56,713 --> 01:16:59,213
he plans to go
and see his brother in Florida,

1502
01:16:59,215 --> 01:17:01,115
who have this very bad disease,

1503
01:17:01,117 --> 01:17:04,118
and be the judge promised
that tomorrow night

1504
01:17:04,120 --> 01:17:05,653
he will leave, get out of here.

1505
01:17:05,655 --> 01:17:07,822
So the judge gives them
what they call Allen's fees,

1506
01:17:07,824 --> 01:17:10,825
which basically says,
"Go back and try to do this."

1507
01:17:10,827 --> 01:17:13,561
That means that
at the end of tomorrow

1508
01:17:13,563 --> 01:17:15,029
whether there will be a decision,

1509
01:17:15,031 --> 01:17:16,664
or there will be a trial cancellation.

1510
01:17:16,666 --> 01:17:18,432
Tomorrow.
There he is.

1511
01:17:18,434 --> 01:17:19,867
Tomorrow will be the last day,

1512
01:17:19,869 --> 01:17:21,302
whether or not there is
a unanimous decision,

1513
01:17:21,304 --> 01:17:23,738
the judge will do it
jury debit.

1514
01:17:23,740 --> 01:17:25,473
At the end of tomorrow,
will be one or a decision.

1515
01:17:25,475 --> 01:17:26,974
It's over by the end of tomorrow

1516
01:17:26,976 --> 01:17:29,310
except Cy Vance,
in unlimited wisdom,

1517
01:17:29,312 --> 01:17:31,512
decide to try this case again.

1518
01:17:33,782 --> 01:17:35,583
Jill, why did you call mom?

1519
01:17:35,585 --> 01:17:37,385
Mommy is concerned about
welfare.

1520
01:17:37,387 --> 01:17:38,853
He is 80 years old,
and he is already awake

1521
01:17:38,855 --> 01:17:41,022
since 5:30 am,
and he doesn't eat anything for dinner.

1522
01:17:41,024 --> 01:17:42,189
We have to take you home,

1523
01:17:42,191 --> 01:17:43,357
so let's get food.

1524
01:17:43,359 --> 01:17:44,558
Papa, you do.

1525
01:17:46,429 --> 01:17:47,795
Can you hear mother?

1526
01:17:47,797 --> 01:17:49,130
So we will put
him on a...

1527
01:17:49,132 --> 01:17:51,032
he will go home now, mother.

1528
01:17:51,034 --> 01:17:52,199
You have to go home, daddy.

1529
01:17:52,201 --> 01:17:54,468
Mommy is worried.

1530
01:17:57,139 --> 01:17:58,239
Good.
We will eat.

1531
01:17:58,241 --> 01:17:59,974
You have to eat now.

1532
01:18:09,217 --> 01:18:11,352
It kills you.

1533
01:18:22,531 --> 01:18:25,366
After a long trial

1534
01:18:25,368 --> 01:18:28,002
and many accusations
against them,

1535
01:18:28,004 --> 01:18:29,670
there will be
very small possibility

1536
01:18:29,672 --> 01:18:34,875
that, you know, the bank will become
truly freed.

1537
01:18:34,877 --> 01:18:38,612
The jury will find them
guilty of something.

1538
01:18:38,614 --> 01:18:42,383
If we go down
on one, that is defeat.

1539
01:18:42,385 --> 01:18:45,519
You know that
must be 80 for nothing.

1540
01:18:45,521 --> 01:18:48,355
You are also a criminal,
or not.

1541
01:18:48,357 --> 01:18:50,691
If you are found guilty of
in one major crime,

1542
01:18:50,693 --> 01:18:53,994
it will be very serious
consequences for the bank.

1543
01:19:08,276 --> 01:19:16,276
Articles "New York times"
on Friday, June, 5, 2015.

1544
01:19:16,352 --> 01:19:19,687
"After a 4-month trial,
a jury found

1545
01:19:19,689 --> 01:19:25,059
" Abacus Federal Savings Bank
and two senior officers

1546
01:19:25,061 --> 01:19:30,831
"Not guilty of big theft
and other costs on Thursday,

1547
01:19:30,833 --> 01:19:34,502
"Refusing Manhattan
business district attorney

1548
01:19:34,504 --> 01:19:39,340
" To prove that banks are systematically lying for years

1549
01:19:39,342 --> 01:19:42,810
"to federal citizens
mortgage associations.

1550
01:19:42,812 --> 01:19:46,947
" After the court clerk reads the
240 number

1551
01:19:46,949 --> 01:19:49,950
"and repetitive words & apos; innocent & apos;

1552
01:19:49,952 --> 01:19:54,955
" after each,
Sung family members cry

1553
01:19:54,957 --> 01:19:57,458
and embrace each other. "

1554
01:20:04,533 --> 01:20:05,566
How do we feel?

1555
01:20:05,568 --> 01:20:06,967
How do you feel?

1556
01:20:06,969 --> 01:20:09,036
I feel relieved.
Relief.

1557
01:20:09,038 --> 01:20:10,538
So much emotion.

1558
01:20:10,540 --> 01:20:11,939
Very very happy, even though.

1559
01:20:11,941 --> 01:20:15,042
No no.
During the trial.

1560
01:20:15,044 --> 01:20:17,344
Now you can
express your feelings.

1561
01:20:17,346 --> 01:20:19,313
I feel very happy.

1562
01:20:19,315 --> 01:20:21,482
I really look forward
to all of us

1563
01:20:21,484 --> 01:20:23,984
can continue.

1564
01:20:23,986 --> 01:20:25,853


1565
01:20:27,389 --> 01:20:28,889
My father... we have to send a message to him,

1566
01:20:28,891 --> 01:20:30,758
and actually you wake up
and call him.

1567
01:20:30,760 --> 01:20:31,959
He doesn't respond to doing text,

1568
01:20:31,961 --> 01:20:33,427
so I call him.

1569
01:20:33,429 --> 01:20:34,628
He answers the phone

1570
01:20:34,630 --> 01:20:36,864
and just that sort of thing
step back

1571
01:20:36,866 --> 01:20:39,366
and start microwave
vegetables

1572
01:20:39,368 --> 01:20:43,871
and say, "um, what?
There is a decision?

1573
01:20:43,873 --> 01:20:46,040
Oh
Should I come?"

1574
01:20:46,042 --> 01:20:49,410
Like, you know, processing.

1575
01:20:49,412 --> 01:20:51,512
I don't feel great about it,

1576
01:20:51,514 --> 01:20:52,546
but I won't feel great

1577
01:20:52,548 --> 01:20:55,149
if the verdict is guilty.

1578
01:20:55,151 --> 01:20:57,484
How the law is
read to us

1579
01:20:57,486 --> 01:20:59,687
is that under each cost
all different elements

1580
01:20:59,689 --> 01:21:00,888
must be fulfilled.

1581
01:21:00,890 --> 01:21:03,657
In my mind, there are
pretty much

1582
01:21:03,659 --> 01:21:07,361
3 of 4 requirements
meet but not all,

1583
01:21:07,363 --> 01:21:11,832
and even though that
you feel strong

1584
01:21:11,834 --> 01:21:14,535
that there is guilt
in several aspects,

1585
01:21:14,537 --> 01:21:17,638
You cannot choose
guilty verdict,

1586
01:21:17,640 --> 01:21:20,307
and that's where the change comes
for 4 of us

1587
01:21:20,309 --> 01:21:23,043
to move
to an innocent party.

1588
01:21:23,045 --> 01:21:25,613
It does the right thing.

1589
01:21:25,615 --> 01:21:28,649
In the end,
is hard to believe

1590
01:21:28,651 --> 01:21:31,886
that prosecutors have spent time
But years are needed

1591
01:21:31,888 --> 01:21:35,155
to really build the case
then...

1592
01:21:35,157 --> 01:21:38,926
after they see everything
their work has resulted...

1593
01:21:38,928 --> 01:21:42,696
that they will think
that they have enough evidence

1594
01:21:42,698 --> 01:21:46,033
to take this case
to court and win.

1595
01:21:46,035 --> 01:21:48,869
Abacus is not released.

1596
01:21:48,871 --> 01:21:50,037
That is not released.

1597
01:21:50,039 --> 01:21:54,942
Dismissal is when someone
is proven to be innocent.

1598
01:21:54,944 --> 01:21:56,777
I don't think there are any
here that say

1599
01:21:56,779 --> 01:21:58,946
that Abacus proved innocent.

1600
01:21:58,948 --> 01:22:00,581
Poor losers come to mind.

1601
01:22:00,583 --> 01:22:02,683
There is a right thing to say

1602
01:22:02,685 --> 01:22:05,486
when the prosecution
office loses a case.

1603
01:22:05,488 --> 01:22:08,289
"We respect...
even though we don't agree with the decision,

1604
01:22:08,291 --> 01:22:11,091
we respect
the jury's sentence."

1605
01:22:11,093 --> 01:22:12,393
Exactly.

1606
01:22:12,395 --> 01:22:14,295
Of course I am very happy at that time.

1607
01:22:14,297 --> 01:22:15,863
I was very happy at that time.

1608
01:22:15,865 --> 01:22:18,065
I feel relieved

1609
01:22:18,067 --> 01:22:20,100
because it's been a long time,

1610
01:22:20,102 --> 01:22:26,573
and I just want... want...
want to continue my normal life.

1611
01:22:26,575 --> 01:22:29,743
"Founder of the bank
Thomas Sung...

1612
01:22:29,745 --> 01:22:33,280
" 79...

1613
01:22:33,282 --> 01:22:35,849
"Word,

1614
01:22:35,851 --> 01:22:39,820
" & apos; This wrong prosecution
runs out of a small community bank

1615
01:22:39,822 --> 01:22:41,055
"& apos; like ours.

1616
01:22:41,057 --> 01:22:43,023
" This is gross injustice,

1617
01:22:43,025 --> 01:22:44,725
"Not only for small banks,

1618
01:22:44,727 --> 01:22:47,494
"& apos; But it makes a shadow
in our community.

1619
01:22:47,496 --> 01:22:50,898
This is really
prejudice and incorrect. & apos;"

1620
01:22:52,702 --> 01:22:54,001
good.

1621
01:22:56,805 --> 01:22:58,205
Not guilty.

1622
01:23:02,510 --> 01:23:05,679
Not guilty.
Not guilty.
Not guilty.

1623
01:23:05,681 --> 01:23:09,917
The D.A.
has been completely
and completely gone.

1624
01:23:12,822 --> 01:23:16,824
Now this section is very important.

1625
01:23:16,826 --> 01:23:20,694
We Chinese must learn
from other minorities

1626
01:23:20,696 --> 01:23:23,864
when it comes
for the benefit of the community,

1627
01:23:23,866 --> 01:23:27,801
You have to let those who are in power know

1628
01:23:27,803 --> 01:23:29,703
that this will happen
never happens again.

1629
01:23:29,705 --> 01:23:32,006
Everyone's fair game,

1630
01:23:32,008 --> 01:23:33,741
and the question is
what will we do about that?

1631
01:23:33,743 --> 01:23:36,243
I think we need to choose,
and we need to challenge people

1632
01:23:36,245 --> 01:23:38,012
to make them responsible.

1633
01:23:46,254 --> 01:23:48,622
Yes.
Superimposed.

1634
01:23:59,034 --> 01:24:03,303
Good.
I'm very happy
you're all here

1635
01:24:03,305 --> 01:24:05,139
in a very happy moment,

1636
01:24:05,141 --> 01:24:09,276
and I want to thank everyone
support and dedication

1637
01:24:09,278 --> 01:24:11,612
The last 5 years we went

1638
01:24:11,614 --> 01:24:14,415
through this unusual experience,

1639
01:24:14,417 --> 01:24:17,684
and let's look happier
the next day.

1640
01:24:17,686 --> 01:24:19,653
Good.
Listen up.
Listen up.

1641
01:24:19,655 --> 01:24:21,488
Let us eat cake!
Let's eat cake!

1642
01:24:21,490 --> 01:24:23,357
Let them eat cake.

1643
01:24:23,359 --> 01:24:25,225
This is really good.

1644
01:24:25,227 --> 01:24:28,262
This is green tea.
Black beans, green tea.

1645
01:24:28,264 --> 01:24:31,465
There are many different flavors.

1646
01:24:31,467 --> 01:24:32,933
Jill, voice-over: Not
really celebra...

1647
01:24:32,935 --> 01:24:34,568
I mean, we are proven right,
and that's great,

1648
01:24:34,570 --> 01:24:36,303
but our goal is never
to go through criminal trials

1649
01:24:36,305 --> 01:24:37,604
and proved true.

1650
01:24:37,606 --> 01:24:40,574
Our goal is to serve
our community, right,

1651
01:24:40,576 --> 01:24:43,811
so this is very unfortunate.

1652
01:24:43,813 --> 01:24:45,079
This is a tragedy.

1653
01:24:45,081 --> 01:24:47,581
We have lots of cakes.
We may have too many cakes.

1654
01:24:51,754 --> 01:24:54,021
The fact that they found innocence

1655
01:24:54,023 --> 01:24:58,192
give us all that hope
America we trust

1656
01:24:58,194 --> 01:25:00,828
still... you still have a chance,

1657
01:25:00,830 --> 01:25:04,064
but that will cost you
$ 10 million.

1658
01:25:04,066 --> 01:25:06,700
Thomas, voiceover:
The Chinese have a saying.

1659
01:25:06,702 --> 01:25:13,107
If you want very hard,
steel sharply makes swords,

1660
01:25:13,109 --> 01:25:15,409
You have to go through fire.

1661
01:25:15,411 --> 01:25:20,280
This experience must be done
my daughter is stronger,

1662
01:25:20,282 --> 01:25:22,783
makes them better people.

1663
01:25:22,785 --> 01:25:24,384
Vera, voice-over:
I got an SMS from a friend,

1664
01:25:24,386 --> 01:25:26,587
which is part of China
immigrant community,

1665
01:25:26,589 --> 01:25:29,223
and he said that he saw
on the news this morning

1666
01:25:29,225 --> 01:25:33,594
and feel proud
become a Chinese American,

1667
01:25:33,596 --> 01:25:37,097
so that really makes it
all this is valuable.

1668
01:25:38,933 --> 01:25:41,368
Good.
Watch Out.
Bye!
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