Thursday, September 19, 2013

Feds to seize 36-story Iranian-owned skyscraper in New York

Wall Street Journal MarketWatch
Sept. 18, 2013

U.S. prosecutors have won a judge’s approval to seize a 36-story skyscraper on 5th Avenue in New York that is owned by the Iranian government.

U.S. Attorney for the Southern District of New York, Preet Bharara, said in a press release the building would be the “largest-ever terrorism-related forfeiture.”

U.S. District Judge Katherine Forrest granted summary judgment in the case seeking forfeiture of the building for violations of Iranian transaction regulations and money laundering offenses.

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