Business Week has filed a lengthy piece on Abacus Federal Savings Bank, the Chinatown-based institution that is the target of a very rare mortgage fraud prosecution. Last spring, The bank and 19 former employees were charged with mortgage fraud...
Very few banks nationwide have been prosecuted as a result of the 2008 mortgage crisis that sent the American economy into a tailspin. Yesterday, however, New York City District Attorney Cy Vance came down hard on Chinatown-based Abacus Federal...
