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US Seizing Iran Owned NYC 36-Story Building

The U.S. can use the proceeds to compensate victims of Iranian-sponsored terrorism.
The building, at 650 Fifth Avenue, was built in the 1970s by a foundation linked to Shah Mohammad Reza Pahlavi.

The building, at 650 Fifth Avenue, was built in the 1970s by a foundation linked to Shah Mohammad Reza Pahlavi.

The Justice Department has conducted the biggest seizure of terrorism-related assets in its history, confiscating a 36-story office building in Manhattan from an Iranian straw company.

A district court ruled on Tuesday that the office building’s owners, the Alavi Foundation and Assa Corp., were “shielding and concealing Iranian assets” in violation of U.S. sanctions on Iran.

Manhattan U.S. Attorney Preet Bharara said in press release: “The Judge’s opinion upholds what was the contention of this office from outset: ‘Assa was (and is) a front for Bank Melli, and thus a front for the Government of Iran.’”

The building, at 650 Fifth Avenue, was built in the 1970s by a foundation linked to Shah Mohammad Reza Pahlavi. The Iranian government took over the building following the 1979 Islamic Revolution and since then it has been owned by a variety of banks and shell corporations, according to the Dept. of Justice.

The ruling allows the U.S. to seize bank accounts and other properties belonging to the building’s owner, and also, possibly, use the proceeds to compensate victims of Iranian-sponsored terrorism.

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10 Responses to “US Seizing Iran Owned NYC 36-Story Building”

  1. Lloyd Bergner says:

    It's a good beginning..let's continue

  2. Nice, some good news today…very nice!

  3. Anonymous says:

    How much is it worth, and who gets the $$? Who are the tenants?

  4. Anonymous says:

    How much is it worth, and who gets the $$? Who are the tenants?

  5. Mary Stone says:

    Well…it remains to be seen if the bank accounts are used to compensate victimsof Iranian-sponsored terrorism! Me…I rather doubt it. Oh…I'm all for the seizure of this building and the bank accounts…however as to where the money actually goes…"I'll believe it when I see it"

  6. Evelyn Munoz says:

    I agree with Bergner, we should do more of this, and if the money goes to a good cause tht is an added pleasure.

  7. Yechiel Baum says:

    THIS WAS ONLY DISCOVERED NOW?
    IRS is busy seeking at Jewish assets but those of criminals are at the bottom of their review or are they just stupid?

  8. Yechiel Baum says:

    THIS WAS ONLY DISCOVERED NOW?
    IRS is busy seeking at Jewish assets but those of criminals are at the bottom of their review or are they just stupid?

  9. Anonymous says:

    I DOUBT that the VICTIMS will ever get even a penny from this seizure. Of course I am a cynic by nature.

  10. Christopher Lee says:

    Great news. I am glad to see the US government doing this.

    Chris
    Owner Cel Financial Services
    IRS Registered Tax Return Preparer
    Registered bonded California CTEC Tax Preparer
    Please visit my website for all your Fillmore Income Tax needs.
    http://www.taxprepfillmore.com/

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