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Feds seize 5th Avenue office building owned by Iran

Dec 17, 2008 3:52 pm By Robert Spencer

650fifth.jpg
A little touch of Tehran on the Hudson

“The move by officials at the Treasury and Justice Departments is designed to stop the flow of funds they say are used to help Iran’s efforts to build nuclear weapons.” Right from New York.

“Feds Seize New York Office Building Tied to Iranian Government,” by Lee Ross for FoxNews, December 17 (thanks to Banafsheh Zand-Bonazzi):

650 Fifth Avenue in New York City was seized Wednesday by federal authorities for its ties to Iran.

Federal authorities moved in Wednesday to seize control of a New York City office building partially owned by a company with ties to the Iranian government.

The move by officials at the Treasury and Justice Departments is designed to stop the flow of funds they say are used to help Iran’s efforts to build nuclear weapons.

The office tower, located on New York’s famed Fifth Avenue, was built by an Iranian non-profit group in the 1970s. Over the years the ownership of the building has evolved into what federal officials say is an attempt to hide the stake held by an Iranian state-owned bank.

The government alleges that Assa Corp., the building’s owner, is a shell company for Bank Melli, which is accused of facilitating the movement of nuclear materials for the Iranian government. Officials contend that Bank Melli was heavily involved in the day-to-day operations of Assa Corp. and its management of the Fifth Avenue building, which generated rental income that was sent back to Iran….

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