Feds Want NYC Tower Owner To Forfeit Bank Accounts

Law360, New York (January 14, 2014, 3:24 PM EST) -- Federal prosecutors on Monday urged a New York federal court to force Islamic cultural group The Alavi Foundation, co-owner of the 650 Fifth Ave. office tower in Manhattan, to forfeit its bank accounts after a judge ruled the foundation fronted for the Iranian government.

The office of Preet Bharara, the U.S. attorney for the Southern District of New York, filed a motion for summary judgment urging the court to force Alavi to forfeit its interest in funds formerly on deposit in three Sterling National Bank accounts...
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