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Film, Pixel, Point

first_imgThe following is a guest post from Glenn Gainor, President, Innovation Studios, Sony Entertainment & TechnologyLet me take you on a journey and start off by telling you that I’ve never publicly shared this story… until now. Some 20 years ago, on a film called “Happy Texas,” I had a problem the night before shooting. It seemed like everything was in order – we had the cameras on the truck, we had the grip and electric equipment loaded; the crew was ready—I had personally spoken to each department head and we had the locations all lined up. Just one thing: we had no film. Imagine that: it’s the night before shooting and one staff member has made a little mistake and forgot to pick it up.The film provider, in this case Kodak in Hollywood, was closed for the night. I thought for a minute when the solution came to me: “Call the guys who sell short ends. They’re open late. We’ll buy enough to get us through the morning until Kodak opens and we can buy full rolls of film.” And that’s exactly what we did.It was a potentially devastating problem – but one that is highly unlikely to happen today since we rarely shoot on film. It wasn’t too long ago when filmmaking was a creative process surrounded by mechanical apparatus. Film was threaded manually through sprockets. Mel Brooks once joked that the hardest thing about making a movie was poking all those holes in film reels. I’m happy to say, purely from a romantic standpoint, that we still call our movies “films” even though most people coming up in the business today never had to thread the cellular halloid chemical strips though the sprockets that pushed this film through the gates for exposure. Today it’s hard to imagine making movies without cutting edge technology.  It surrounds us in the preparation, shooting, and post-production process.A generation ago, most innovation came from the backlots, including camera, sound, and lighting departments and the studio color labs. Today, innovation is global and comes from a vast array of industries including technology from the auto world, aerospace, computer hardware companies, cloud services, just to name a few.Innovation Studios, Sony Entertainment and Technology, embraces the history of the film industry that I grew up in and builds upon it utilizing state of the art technical and digital achievements born in the 21st Century. The company that I oversee is poetically located in the heart of Sony Pictures Studios, where I made my first Screen Gems movie, “Vacancy,” starring Kate Beckinsale and Luke Wilson. We shot on film, on Stage 15 at Sony Pictures and built a small motel with rooms and an office, and a road that led to it and a gas station and even put a large oak tree on the stage. My friend who ran the backlot of the studio told the director and me, “This is how we used to make ‘em. This is how we should make ‘em.”And I agree that there’s nothing like building a village or any kind of large set on a soundstage, but the marketplace in our industry is changing. Quite frankly, we’re running out of space on our stages to shoot our movies and shows due to the rise in content creation thanks in part to streaming services and the overall uptick in production coming mostly from episodics.Our industry has also become much more global since the days when I started making motion pictures. We’re all over the world. We’re in London, New York, Vancouver, Toronto, in states like Massachusetts and in countries like Bulgaria and Australia and France and Thailand.That’s in part why I saw the need for a new way of thinking. What if we could collapse geography and digitize the physical world so we could bring locations far and wide to one stage, wherever that stage may be, and find new and more efficient ways to tell our stories. Hello Innovation Studios.This was a grand idea. And we knew we shouldn’t do this alone. That’s why we partnered up with two tech giants—Intel and Dell. We also brought in an enterprise solution partner in Deloitte Digital. Computing speed, processing speed, storage, cloud services, and the steady hand of Deloitte Digital to help guide us through this emerging world of high tech, are all critical components in our need for global storytelling. Yes, this vision requires a group effort, one that can help storytellers with great ambitions tell their stories like never before.At the onset of Innovation Studios we have focused in on the core principle of digitizing the analog world. We utilize a process called volumetric image acquisition which aims to empower film and TV production with virtual sets. As we have developed this end-to-end process through our proprietary software, we have leaned into our partnership with Dell and Intel to help us solve processing and production challenges that never existed before. We are able to design and define new infrastructure solutions that bring a new approach to how technology can be integrated into film and TV production. As we continue to push the boundaries, we look to the skills and experience of our partnership at Deloitte Digital to help not only extend the technology to new industries but define processes and approach.Our partnerships aren’t just about what we do at Innovation Studios but are about leaning into each other outside of our day-to-day work. We have become a sort of extended family. What I mean by that is that it takes all kinds of talented people to help us tell stories. We need engineers and craftspeople who understand each other’s needs. We all know one thing is certain in the entertainment industry: the need for speed so we can move our data quickly from camera to editorial to consumers.I admire those who help us figure out the pressing needs moving enormous amounts of data that help us build digital worlds or in our case, capture analog worlds that we turn into trillions of submillimeter points that are so small… How small are they? You could split your hair seven times before you get to one of our submillimeter points. That’s pretty small. Now imagine trillions of them that you can film in on our stage that utilizes our virtual sets.I shared this concept with my extended family at Dell Technologies World, their biggest event of the year. As I got to spend time there, I realized that Dell Technologies is also collapsing geographies and industries with the amazing and diverse set of partners they assembled. From AI baristas to top photographers, Dell Technologies was bringing everyone together through its technology and services in this field. It was inspiring to see the creativity, enthusiasm and community around our partner.So much of what we do is mechanical, whether it’s opening a new business or preserving valuable assets, and what I noticed at Dell Technologies World was a consistent theme: to get things going, we need a strong technology partner ready to help bring our visions to life through data management, data storage, and the processing of this data. In my case, it’s storytelling that ends up on a screen.When I finally met with Michael Dell, I was happy to say, without hesitation, that he has one heck of a team of people who all share his passion for technology, but they also understand the value of the relationships we make and keep are equally important._____________________________________________________________________________________________________________________________________Glenn GainorPresident, Innovation Studios, Sony Entertainment & TechnologyHead of Physical Production, Screen Gems, Sony Pictures Motion Picture GroupGlenn Gainor oversees Innovation Studios, a state-of-the-art facility housed in a sound stage on the Sony Pictures Studios lot. The space features the latest in research and development from Sony Corporation and others in areas including volumetric video and customizable set scanning to help storytellers around the world create content in radically new ways.Gainor is also head of physical production for Screen Gems, a label under the Sony Pictures Motion Picture Group umbrella, and has been involved with several #1 movies such as The Perfect Guy, No Good Deed, Think Like a Man, Friends with Benefits, and Obsessed. Since joining Screen Gems in 2007, Gainor has overseen the label’s physical production and has served as an executive producer and unit production manager on films such as 2015’s The Wedding Ringer, which held as America’s number one comedy for three weeks.A cornerstone in Gainor’s innovative approach to film production is the intersection of technology, sustainability and filmmaking.Gainor shepherded the first-ever use of Sony’s flagship consumer-based alpha 7SII cameras to produce films. He also executive-produced the romantic comedy Think Like a Man, which was the first feature to be shot exclusively with LED lights. Gainor’s dedication to maintaining environmentally sustainable productions began in 2007 when he oversaw the construction of the super-structure for the movie Quarantine. The same structure was repurposed for seven productions including The Stepfather, Takers, and Obsessed. Gainor also swapped out traditional wood based sets for ecofriendly fiberboard panels on Proud Mary.Before joining Screen Gems, Gainor produced three pictures for Adam Sandler’s Happy Madison: Strange Wilderness, Grandma’s Boy and Deuce Bigalow: European Gigolo. He executive-produced Nicolas Cage’s directorial debut, Sonny, and served as line producer on the critically acclaimed Panic, directed by Henry Bromell. Gainor coproduced George Hickenlooper’s The Man from Elysian Fields, as well as the top selling Sundance picture, Happy Texas.Gainor’s efforts in sustainability and technology have been recognized by numerous organizations. Most recently, he accepted The Sir Charles Wheatstone Award on behalf of Sony Corporation from the Advanced Imaging Society. Also, the Environmental Media Association awarded Screen Gems with the Green Seal for implementing sustainable production practices and raising environmental awareness; LA’s City Council has twice recognized Gainor’s commitment to environmentally friendly production practices in Los Angeles and implication of new technology in the motion picture industry; and Gainor received the California on Location Signature Award, for his efforts to preserve California’s film industry and culture.Gainor is a member of the Academy of Motion Picture Arts and Sciences, the British Academy of Film and Television Arts, the Directors Guild of America, the Producers Guild of America, and a contributing member of the Motion Picture & Television’s Funds Next Generation.He is a graduate of the film program at California State University at Northridge, and recipient of the 2010 Cinematheque Award from the Department of Cinema.last_img read more

Woo delivers latest Last Lecture installment

first_imgDean Carolyn Woo’s contribution to the Last Lecture Series — which asks faculty members to prepare a lecture as if it were their last — was especially timely Thursday night, as Woo enters the final months of her fourteen year career at the helm of the Mendoza College of Business. Woo will leave at the end of the Fall Semester to take over as CEO of Catholic Relief Services. As Woo faces major change and uncertainty in her own life, she advised audience members to face adversity with faith, not to fear hardship or responsibility and not to underestimate the value of education. “I choose to say that because I think, right now, the economic environment worries everyone,” Woo said. “When I was growing up, I was in a pretty comfortable family, except that my father had a few issues. So even when I was younger, I had a sense of not having security. I also decided that my way of responding to that was to go to school.” Challenges followed Woo to Purdue University, where she began her undergraduate education with only enough money for one year’s expenses. Woo said she was fortunate to receive a scholarship, which was both a blessing and a reminder to appreciate her education. “I was able to be given a scholarship that covered the rest of my years,” Woo said. “As a result, I never took any opportunities for granted. When you’re in the middle of [adversity], it’s very difficult, but work your way into that adversity and work your way out of the adversity and don’t be afraid of responsibility. I think adversity really shapes us and it’s a gift in its own ways.” Always maintain faith, Woo said. “You may feel like you’re all alone, but you really are not,” she said. “I think God is always with us. At Purdue, I started going to daily Mass, and it was an incredible sense of peace and comfort. Out of whatever [the challenge] is, something comes through.” While the College of Business has risen to the top of BusinessWeek’s undergraduate business school rankings, Woo would not take full credit for the college’s success. “A number one ranking has some randomness in it,” she said. “You can’t just earn a number one ranking. There is an element of the [Holy] Spirit with us.” Relationships with others are gifts, Woo said. If someone stands up for those in need, others will support that person in turn. “I think it is really important that you do not set up barriers where you look at other people by their titles or by their achievements,” Woo said. “Those things are really irrelevant. Never look down on people.” Woo recounted the advice of a speaker at her graduation from Purdue’s MBA program. “Charisma is the ability to take people as you find them, to like people for what they are and to not despise them for what they are not,” she said. “In other words, it is a person who has the capacity for other people. And if you have the capacity for other people, you will draw people to you.” Set high standards and perform to your potential, Woo added. “It’s about the respect you give for the responsibility someone has put in your hands,” she said. “It’s about your way of honoring the people that are on the receiving end of that work. Along with that, it is very important to not let people down. And the thing is, if you don’t work at [a high] level, you have no right to expect other people to work at that level for you.” Even in the face of difficulty, find the good and remember to laugh, Woo said. “I think laughing is the best way to acknowledge that whatever difficulties we are facing, that indeed, there is a better day, that we are not alone struggling in this, that there is joy,” Woo said. “If we believe in God, we know that there is hope. If the only prayer you ever say in your life is ‘thank you,’ that would be sufficient.”last_img read more

GRC hosts Sexual Violence Awareness Month

first_imgOctober’s Sexual Violence Awareness Month — a series of programs and events including giveaways, awareness campaigns, a panel discussion and a workshop — will focus on bystander intervention and taking action to prevent sexual violence on campus, Gender Relations Center (GRC) Director Christine Caron Gebhardt said.Emily Danaher | The Observer Gebhardt said the GRC planned the month’s programs based on what it saw as an increase in awareness and discussion surrounding sexual violence issues.“We are beginning to break the silence around sexual violence,” she said. “What that does is help people who are impacted by sexual violence not to be afraid to come forward and receive help, but it also puts a responsibility on us as a community to not merely acknowledge that … we know how to care for them and that we also think about, ‘How do we prevent this from happening again?’”Unlike in previous years, when Sexual Violence Awareness Month emphasized attention to sexual violence and its impact on the community, this year’s events will be more action-focused, in addition to raising awareness and providing support to survivors of sexual violence, Gebhardt said.“After the [crime alert] emails come out, people say, ‘what are we going to do about this?’ and there’s multiple answers to that question,” she said. “One of the most important things is just not to ignore it. That’s one of the basic things that we can do is not to delete the email, but to say, ‘what is it that I can do?’ — Not what Notre Dame can do, but what I can do. If we all take an individual commitment to act, then we can … change our community where we not only say we don’t tolerate sexual violence, but we act to change our culture so that it can’t occur on our campus.”To kick off the month, FIRE Starters, the GRC’s peer educators on gender issues, will hand out free t-shirts Wednesday in LaFortune Student Center and North and South Dining Halls. Senior FIRE Starter Deirdre Harrington said the t-shirts, which feature the text “I am my brothers’ and sisters’ keepers,” are a way of connecting the national issue of sexual violence to the University’s Catholic character.GRC staff will also host a bystander intervention workshop Wednesday at 7 p.m. in the Notre Dame Room of LaFortune. Gebhardt said the workshop, which takes place earlier in the semester than it has in previous years, was a response to students asking how to take action on preventing sexual violence.“What campuses across the country are realizing is that it’s not enough to say, ‘we need to intervene,’” Gebhardt said. “The reason why we do bystander intervention is to show students how to intervene, and I think that’s the biggest thing. The question becomes ‘What can we do for students to follow through?’”Gebhardt said workshop participants will examine different scenarios in which they might need to be an active bystander, brainstorm obstacles to effective intervention and learn how to overcome them.Harrington said FIRE Starters will hand out cups reading “Are you okay?” on Tuesday in LaFortune.“This question has a double meaning — ‘are you okay’ is a way to ask for consent. [It’s] also to encourage bystander intervention, not being afraid to ask someone, ‘hey, are you okay?’” Harrington said.Oct. 8, the GRC will host a panel discussion, “Know Your IX: Resources for Care and Support.” Referencing the federal policy Title IX, which mandates gender equality in schools and provides recourse for student victims of sexual violence, the panel will “discuss the most effective ways to care — physically, emotionally, and spiritually — for those who are impacted by sexual violence,” according to the event poster. The panel will include representatives from Notre Dame, the Family Justice Center of St. Joseph’s County and St. Joseph Regional Medical Center.The annual Mass of Healing, which includes intentions for those impacted by sexual violence, will take place Oct. 13 in the Log Chapel. The GRC will hand out prayer cards throughout the week.The same week, Men Against Violence, a GRC group which works to raise awareness about and prevent sexual violence, will hold a pledge drive and White Ribbon campaign. According to the event poster, the White Ribbon is an international movement which arose after an anti-feminist killed 14 women at a Canadian university.Sexual Violence Awareness Month will conclude Oct. 30 with the GRC’s annual “Time To Heal Dinner” in the press box of Notre Dame Stadium.Gebhardt said the month offers a way to look at the Notre Dame community’s level of awareness and plan for future action against sexual violence.“After we plan, we step back and listen and see, what are the remaining questions?” she said. “As we do programming in the future, what are the things that we need to continue to talk about, what are the dialogues that people need to participate in, what are the concepts that are difficult as we talk about it? We live in it, so it’s on our minds all the time, so for us, when we talk about it, it’s painful, but it something that we can do.”Harrington said the month would be a way for students to understand how to get involved in the movement against sexual violence.“In order to get campus culture to shift surrounding sexual violence, we need to start with baby steps,” Harrington said. “… We’re building up so we can have events like Take Back the Night and the Time to Heal Dinner, where we’ll have larger attendance because the campus as a community says, ‘We’re going to actively stop sexual violence on our campus and throughout the country.’ In order to start this kind of culture shift, we need to start with poster campaigns, something simple that might remind someone or get the conversation started . . . [and] keep it going.”Regina Gesicki, the GRC’s assistant director for educational initiatives, said students could participate in the month’s events regardless of their level of awareness or involvement in sexual violence prevention initiatives.“We want to promote the idea that we are a community that really cares about each other,” Gesicki said. “From t-shirts with brothers and sisters keepers, all the way to learning how to be a bystander, to resources, it’s wherever you can be a part. Maybe you’re only at the point where you can wear a t-shirt. That’s fine. But maybe you’re ready to be certified as an active bystander. There’s a lot of different ways to get involved, and the idea is that this is offering a lot of opportunities.“You don’t have to do all the things, but do something, and realize that it’s part of a larger effort not only to raise awareness but to raise the investment in the fact that our community is built by every single person.” Tags: bystander intervention, christine caron-gebhardt, Deirdre Harrington, Regina Gesicki, sexual assault, sexual violence, Sexual Violence Awareness Monthlast_img read more

Knott priest stresses supporting students in faith journeys

first_imgWhen Fr. Dennis Strach found out he would be moving into Knott Hall at the beginning of last semester, he did not know what to expect. The last time he lived in a dorm, Strach was a student himself, and he wasn’t sure how he would approach serving as both a resource and a friend to his students. However, Strach feels the men of Knott quickly and readily accepted him into their community.“It’s been short but it seems like in many ways I’ve known them for a while or the welcome has been such that I’ve been moved by their openness and their willingness to let me accompany them in their time at Notre Dame and in their faith journeys especially,” Strach said.When Strach asked what Knott’s “thing” is, the rector, Pat Kincaid, said the community is rather spiritual. Though he was skeptical at first, Strach said he has found that to be true.“[They ask] good questions trying to find the meat of their faiths, like ‘I don’t want to go to Mass and just have that be like a box to check or something I’m expected to do,’” Strach said. “Why do we go, what is that? How do you pray? Do you just talk to yourself? What is it? Good questions, not doubting their faith but wanting to try to get something out of it and be in relationship with Christ.”One of the benefits of having a priest in residence, Strach said, is being able to see religion in a context other than Mass or in the classroom.“I think to be able to see you as a normal person sort of lends itself to a deeper relationship,” Strach said. “I find that in those moments or the informal gatherings … we realize that we’re on the same journey. We’re in different places, we might have taken different paths, maybe you’re called to the same path, I don’t know but living alongside your students or being able to be an active part of their lives and build an actual relationship with them outside of just Mass or something lends itself to that. … It helps put some flesh on the bones of that statement that we try to like walk alongside our students, not just in your academic endeavors but really just in your normal life. I’m blessed to be in that role.”Strach also serves as the associate director of vocations for the U.S. province of the Congregation of the Holy Cross, and he focuses on high school students who are interested in the priesthood. Strach compared his goals to marketing but with a twist.“You’re not selling a product or recruiting, but rather what you’re selling is the authenticity of your own life and the fact that I’m actually happy and if I could choose anything else, I would choose this again. There’s a lot of people that would,” Strach said.One of the challenges and aims in Strach’s role as both a vocations director and a priest in residence is to break down the stereotypes and misconceptions about life as a priest.“You’re always trying to help people kind of create the space to think about your gifts and talents,” Strach said. “But I think [the role] any priest or brother really plays is probably just the witness of their life, like a married couple: if you’re happy, people say like, whatever you guys got, I want to do that … authentic joy and integrity in your vocation leads people to ask some good questions, but also want what you want.”Accompaniment, or supporting and listening to people on their faith journeys, is a big part of both of Strach’s roles. “The role of a vocations director is really just to kind of create some structure such that people have the space and kind of resources, accompaniment to think about this vocation, have someone to work with to ask their questions and line them up with where they need to be,” Strach said.Strach stressed that priests in residents should be seen as a resource for all students, no matter their religious beliefs or lack thereof.“Hopefully through the witness of so many people on campus and, again, steady presence and being around enough that they know of our care for them, whether it’s explicit conversation or just being at their game or being at their play or their concert … for those people that there might be some barriers to to our communicating or seeing me as a resource, hopefully those will break down,” he said.Tags: Congregation of the Holy Cross, Knott Hall, priest in residencelast_img read more

Jenkins releases statement on death of Justice Ruth Bader Ginsburg

first_imgObserver File Photo U.S. Supreme Court Justice Ruth Bader Ginsburg visited Notre Dame for a conversation, moderated by U.S. Circuit Judge Ann Williams, a Notre Dame alumna, at Purcell Pavilion Sept. 13, 2016.In his statement, Jenkins highlighted a quote from Ginsburg in the statement she released to honor Supreme Court Justice Antonin Scalia after his passing, which referenced the two justices’ shared love of opera.“Upon the death of her close friend and ideological opposite, the late Supreme Court Justice Antonin Scalia, Justice Ginsburg wrote a fitting epitaph for all who serve the law so well: ‘Toward the end of the opera Scalia/Ginsburg, tenor Scalia and soprano Ginsburg sing a duet: “We are different, we are one,” different in our interpretation of written texts, one in our reverence for the Constitution and the institution we serve,’” Jenkins said.Tags: Ruth Bader Ginsburg, Supreme Court, women’s rights Supreme Court Justice Ruth Bader Ginsburg, a trail-blazing advocate for women’s rights, died at the age of 87 on Friday after serving on the court since 1993. University President Fr. John Jenkins recalled Ginsburg’s visit to Notre Dame in 2016.“Combining intellectual rigor with playfulness and candor, Justice Ginsburg discussed policy, politics and the struggle for women to find their rightful place in the administration of justice,” he said in the release. “It was a personal privilege for me to take her on a tour of campus and witness her kindness and courtesy to everyone she met.”Ginsburg was the second woman appointed to the Supreme Court. She put forth strong dissenting opinions during her time on the Court and became an icon to the younger generation. She died in her home in Washington D.C. from complications of metastatic pancreatic cancer, the Supreme Court said.last_img read more

Forecasters: Heavy Rain on Long Island Through the Night

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Satellite image of system sweeping across Long Island Saturday. (Photo credit: National Weather Service)A system that brought unseasonably warm temperatures, heavy rain and strong wind, swept across Long Island Saturday and knocked out power to hundreds of PSEG Long Island customers as the Island prepared for another episode of heavy rain through the evening.PSEG Long Island, which took over the electric grid for LIPA on Jan. 1, was able to quickly restore the majority of the outages. As of 4:17 p.m., 202 customers were in the dark, according to the utility’s outage map.In a special weather statement issued Saturday afternoon, the National Weather Service in Upton warned Long Islanders to brace for heavy rain, possibly between 1 and 2 inches.The agency said a low pressure system moving into eastern Canada will drag a cold front through the region late in the evening.“This system will…produce heavy rainfall this afternoon through this evening,” the weather service said.A flood watch is in effect for all of Long Island through late Saturday night, while a wind advisory is expected to last until 10 p.m.Forecasters said small stream and river flooding is possible during the duration of the storm.A dense fog that fell over LI Saturday is also expected to continue with visibility at a mile or less, forecaster said.“Anyone driving should exercise extra caution and be prepared for rapidly changing visibilities,” the weather service said. “Drive extra slowly and use low beam headlights.”Forecasters said wind gusts could top off at 46 mph Saturday night.Long Islanders woke up to mild temperatures in the mid-50s Saturday. The forecast for Sunday is calling for sunny skies with a high near 45.last_img read more

Analytics firm Bonza gets seed funding, releases COVID-19 data

first_imgHomegrown big data analytics company Bonza has announced that it has received an undisclosed amount of seed funding from East Ventures, one of the most active early-stage venture capital firms in Indonesia.Bonza will use the funding to develop its technology and expand its business operations. It is currently building a product to simplify data preparation and analyze data.“Our mission is to support organizations in making sense of their data from various sources, integrate it into a single source of truth and use it to build and deploy AI and machine-learning solutions for better decisions at scale,” said Bonza co-founder Elsa Chandra. East Ventures co-founder and managing partner Willson Cuaca said the investment would enable Bonza to build a platform that facilitated decision-making and monitored the results of those decisions by presenting insights generated from unstructured data.“Bonza has adopted an algorithm to estimate the effective reproduction number (Rt) of the COVID-19 virus throughout Indonesia and other countries in the region,” he said, adding that Indonesia needed metrics to monitor the impact of reopening public spaces on the infection rate.The start-up has recently released data on the nationwide COVID-19 Rt on its website.Rt is an epidemiological parameter used to measure virus transmission rates. It is often used by policymakers to devise COVID-19 plans and measure the effectiveness of control measures such as large-scale social distancing (PSBB).For example, if Rt is 2, it indicates that an infected person, on average, will transmit the virus to 2 people. Each patient will then, on average, transmit the virus to two other people and so on.However, if Rt is less than 1, a carrier will, on average, transmit the virus to less than one person. This suggests the number of infected people in the area will decrease over time until transmission stops.The Bonza Rt data presents a confidence interval indicating the range of uncertainty in its value of Rt. As the testing ratio increases, the grey area will get smaller, indicating higher levels of confidence.Topics :last_img read more

Deutsche Bank fined $150 million for ties to sex offender Epstein

first_imgEpstein, who was 66, hanged himself in Manhattan’s Metropolitan Correctional Center in August 2019 while awaiting trial on charges of trafficking minors for sex. He had pleaded not guilty.”Banks are the first line of defense with respect to preventing the facilitation of crime through the financial system, and it is fundamental that banks tailor the monitoring of their customers’ activity based upon the types of risk that are posed by a particular customer,” said DFS Superintendent Linda Lacewell. “Despite knowing Mr. Epstein’s terrible criminal history, the Bank inexcusably failed to detect or prevent millions of dollars of suspicious transactions,” she added. The financial regulator said the bank should have raised red flags over transactions that included “settlement payments totaling over $7 million, as well as dozens of payments to law firms totaling over $6 million for what appear to have been the legal expenses of Mr. Epstein and his co-conspirators.” Topics : Financial regulators in New York said Tuesday they have fined Deutsche Bank $150 million for failing to raise red flags on accounts held by tycoon sex offender Jeffrey Epstein.The fine marked the first time a financial institution has been penalized for its dealings with the late financier, said the New York Department of Financial Services (DFS), an agency of the state government.It said in a statement Deutsche Bank had failed to monitor Epstein’s account sufficiently closely, “despite ample information that was publicly available concerning the circumstances surrounding Mr. Epstein’s earlier criminal misconduct.”center_img It also listed suspicious payments “to Russian models, payments for women’s school tuition, hotel and rent expenses, and… payments directly to numerous women with Eastern European surnames.”The DFS added that the regulators also found “periodic suspicious cash withdrawals — in total, more than $800,000 over approximately four years.” “Throughout the relationship, very few problematic transactions were ever questioned, and even when they were, they were usually cleared without satisfactory explanation,” it said.The fine also covers Deutsche Bank’s relationship with Danske Bank Estonia, which is at the center of a money-laundering scandal. The regulator said Deutsche Bank had similarly failed to act on red flags in its relationship with FBME bank in Cyprus.last_img read more

Jouska investigated for money laundering: PPATK

first_imgThe task force issued an instruction on July 24 that Jouska, which had gained popularity among young investors through social media, cease operations over allegations of illegal stock brokerage and investment mismanagement.Read also: OJK shuts down Jouska, two other investment firmsIt also shut down PT Mahesa Strategis Indonesia and PT Amarta Investa Indonesia, which are alleged to have provided investment management services and financial advice for Jouska’s clients without proper licenses.Jouska, Amarta Investa and Mahesa Strategis are not registered as investment-management companies or securities companies at the OJK. Topics : The task force also asked Jouska to settle the disputes with its clients transparently and invite the customers to settle their issues while processing its licenses in line with its business activity as soon as possible.The move came after former clients of Jouska, which claimed to be an independent financial advisor, took to Twitter, saying the company’s decision to invest their funds in low-quality stocks had resulted in a slump in their portfolio values by more than 70 percent.Jouska CEO Aakar Abyasa Fidzuno pledged on Monday to take responsibility and compensate its clients for their equity investment losses.Read also: Domestic investors dominate stock market amid pandemicThe commitment was conveyed by Aakar in an email statement to the clients as he asked them to give him and the firm some time to formulate a solution to the problem.“We ask the clients to give us time until at least Sept. 1 to formulate and convey our strategy to pay compensation for the losses,” Jouska said in the statement.Aakar also apologized to the clients for the losses they endured from the equity investment the firm had carried out using the clients’ money.“I would also like to apologize to the shareholders, management, board of commissioners and Jouska’s employees. I understand that this [problem] affects Jouska’s reputation,” he said in the statement.Jouska’s clients shared on social media their portfolio details revealing that the company invested the majority of their money in newly listed computer hardware-trading company, PT Sentral Mitra Informatika, trading on the Indonesia Stock Exchange (IDX) under the code LUCK.Advisors at Jouska are also reported to have prevented clients from selling the shares when the prices had dropped by more than 80 percent, an allegation that has neither been denied nor confirmed by the company.center_img The Financial Transaction Reports and Analysis Centre (PPATK) is investigating financial advisory firm PT Jouska Financial Indonesia for alleged money laundering following suspected illegal investment and fund management carried out by the now-suspended company, an official has said.“Yes, the PPATK is investigating the Jouska case,” the agency chairman, Dian Ediana Rae, said on Tuesday, as reported by Tempo.co.Dian said the PPATK would actively investigate investment cases like that of Jouska, which are handled by the Financial Services Authority’s (OJK) Investment Alert Task Force.last_img read more

Qld builder donates large home in Springfield Lakes to help babies

first_img325 Lakeside Avenue, Springfield LakesThe home is open for inspection for the next two weekends from 1-2pm each day.Auction day will be a festive affair with a fun morning planned from 9am to 11am with a sausage sizzle, jumping castle, balloons and fairy floss. More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor3 hours ago325 Lakeside Avenue, Springfield LakesPlantation Homes state building manager Alex Raleigh said the company was proud to play a part in such a worthwhile cause as The Mater Foundation.“We are humbled by the continued generosity of our suppliers and tradespeople, who, year after year, donate their time to help create a stunning home to be auctioned off for Mater Foundation,” Mr Raleigh said. 325 Lakeside Avenue, Springfield Lakes is going under the hammer for Mater Little Miracles, on July 29 at 10am.BUILT by the generosity of around 150 volunteer subcontractors and suppliers resources, this Springfield Lakes home will go under the hammer for charity at the end of the month.With stunning views over hills and lakes, the home is the seventh to be built and auctioned off by Plantation Homes, who to date have raised more than $2 million for Mater Little Miracles. 325 Lakeside Avenue, Springfield Lakes“This means a family has the unique opportunity to buy a quality house in a charming community for a marvellous cause!”Mater is a group of seven hospitals, a number of health centres, a world-class medical research institute, and pathology and pharmacy businesses.center_img 325 Lakeside Avenue, Springfield LakesThis latest home at 325 Lakeside Avenue, Springfield Lakes, with five bedrooms, study, theatre room, five designated living spaces and large covered alfresco area, will go to auction on-site on July 29 at 10am.The 372sq m two-storey home is the Sahara Belle Q1, complete with a large showpiece kitchen with European appliances and a walk-in pantry. 325 Lakeside Avenue, Springfield LakesMater Foundation executive director of fundraising Lesley Ray said after seven years it was still overwhelming to see Plantation Homes rally their volunteer trades to build a stunning home over six months, all for Mater Foundation to auction for Mater Little Miracles.“Auction day is a major event in Mater Foundation’s calendar and the excitement builds each time we put a home under the hammer.“Funds raised from the sale of House for Life will go towards treating the 2000 seriously ill and premature babies cared for each year at Mater.”last_img read more