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U.S. judge says NYC skyscraper owner concealed Iranian assets
Source: Reuters
U.S. judge says NYC skyscraper owner concealed Iranian assets
By Bernard Vaughan
NEW YORK | Mon Sep 16, 2013 5:23pm EDT
(Reuters) - A federal judge said Monday the owners of a skyscraper on New York's Fifth Avenue were deliberately "shielding and concealing Iranian assets," in violation of U.S. law.
U.S. District Judge Katherine Forrest ruled last week that the majority owner of the building, the Alavi Foundation, knew that two minority owners were fronts for Iran's Bank Melli.
In an 82-page opinion on Monday explaining her ruling, Forrest said the violation was a deliberate effort to help Iran, which violates the International Emergency Economic Powers Act and U.S. money laundering laws.
She wrote "there is a far broader violation - one that involves not simply an unknowing and innocent provision of services to Iran, but providing those services to assist Iran by shielding and concealing Iranian assets."
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By Bernard Vaughan
NEW YORK | Mon Sep 16, 2013 5:23pm EDT
(Reuters) - A federal judge said Monday the owners of a skyscraper on New York's Fifth Avenue were deliberately "shielding and concealing Iranian assets," in violation of U.S. law.
U.S. District Judge Katherine Forrest ruled last week that the majority owner of the building, the Alavi Foundation, knew that two minority owners were fronts for Iran's Bank Melli.
In an 82-page opinion on Monday explaining her ruling, Forrest said the violation was a deliberate effort to help Iran, which violates the International Emergency Economic Powers Act and U.S. money laundering laws.
She wrote "there is a far broader violation - one that involves not simply an unknowing and innocent provision of services to Iran, but providing those services to assist Iran by shielding and concealing Iranian assets."
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Read more: http://www.reuters.com/article/2013/09/16/us-usa-iran-skyscraper-idUSBRE98F0YC20130916