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Jury finds US May Seize Iran-Linked Office Tower
Jury finds US May Seize Iran-Linked Office Tower

Jury finds US May Seize Iran-Linked Office Tower

Jury finds US May Seize Iran-Linked Office Tower

A jury in New York on Thursday found that the US government may seize a Manhattan office building from a nonprofit foundation accused of violating US sanctions against Iran. The jury in a Manhattan federal court claimed 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 linked to Iran, and helped conceal the fact, Reuters reported. Jurors claimed that the US government had proven that the property was involved in or traceable to money laundering. The US government wanted to seize the 36-story building, which could be worth nearly $1 billion, to benefit people with legal judgments relating Iran to alleged bombings and other attacks. Tehran denies any role in the attacks. “On behalf of all of our clients, we are extremely pleased with the decision and the verdict handed down today,” said James Bernard, a lawyer for the judgment holders. “The Alavi Foundation is disappointed by today’s verdict and by the court’s decision in the related cases and is considering its options,” said John Gleeson, a former federal judge who represented the foundation at the trial.

 

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