Politics & Government
Feds Can Seize Iranian-Owned Midtown Tower, Jury Rules
The federal government has been trying to seize 650 Fifth Avenue — a 36-story office tower — for nine years.
MIDTOWN MANHATTAN, NY — The federal government was awarded a big victory Thursday in a nine-year attempt to seize an Iranian-owned Midtown Manhattan office tower, acting U.S. Attorney for the Southern District of New York Joon H. Kim announced.
A jury ruled in favor of the United States in the effort to seize 650 Fifth Avenue — a 36-story office building located between Fifth and Sixth avenues — Kim said in a statement.
"For over a decade, hiding in plain sight, this 36-story Manhattan office tower secretly served as a front for the Iranian government and as a gateway for millions of dollars to be funneled to Iran in clear violation of U.S. sanctions laws," Kim said in a statement.
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The seizure of the office tower — valued at more than $500 million — would represent the largest civil forfeiture jury verdict and the largest terrorism-related civil forfeiture in U.S. history, Kim announced.
In 2013, the federal government was granted permission to forfeit the Midtown tower from its owners — New York-based nonprofit the Alavi Foundation and Iranian-based Assa Corp. — after proving that the owners were under the control of the Iranian Government.
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Federal prosecutors proved that both the Alavi Foundation and Assa Corp. had provided "numerous services" to the Iranian Government and government-controlled Bank Melli, according to a 2013 press release from the U.S. Attorney's office.
When the federal government seizes 650 Fifth Avenue it plans sell the building and donate proceeds to victims of Iranian state-sponsored terrorism, the U.S. Attorney's officer has previously stated.
"This verdict not only vindicates the exemplary work of all the career prosecutors and law enforcement partners who have doggedly pursued this case for almost a decade, but importantly, it also allows for substantial recovery for victims of Iran-sponsored terrorism," Kim said in a statement.
The Alavi Foundation has the option to appeal Thursday's jury ruling.
Photo by Spencer Platt/Getty Images News/Getty Images
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