JURY CONCLUDES: U.S. Claims Largest Terror-Related Civil Forfeiture in its History

Iran-based Alavi Foundation owns 60% of 650 Fifth Avenue, a 36-floor office building in Manhattan, which is worth around US$ 500 million to US$ 1 billion. The Assa Corporation owns the other 40% of the building, which is an entity controlled by Bank Melli, an Iranian bank owned by its country’s government. Some of the building’s tenants include Nike, which has leased seven floors and the Doris Duke Charitable Foundation.

What Happened?

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