Jury finds United States can seize Iran-linked office tower
Source: Reuters
A jury in New York on Thursday found that the U.S. government can seize a Manhattan office building from a nonprofit foundation accused of violating U.S. sanctions against Iran.
The jury in a Manhattan federal court said the Alavi Foundation, majority owner of an office tower at 650 Fifth Avenue, knew that its partner and the building's minority owner, Assa Corp, was a front for Iran, and helped conceal the fact.
Jurors said the government had proven that the property was involved in or traceable to money laundering.
The government wanted to seize the 36-story building, which could be worth nearly $1 billion, to benefit people with legal judgments against Iran relating to bombings and other attacks.
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U.S. | Thu Jun 29, 2017 | 2:11pm EDT
By Brendan Pierson | NEW YORK
Read more: http://www.reuters.com/article/us-usa-iran-lawsuit-idUSKBN19K2NB
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