Statement Of Acting U.S. Attorney Joon H. Kim On Jury Verdict Finding 650 Fifth Avenue And Other Properties Forfeitable To The United States
A U.S. jury found that Iranian entities secretly controlled 650 Fifth Avenue and other properties to circumvent sanctions, leading to the largest terrorism-related civil forfeiture in U.S. history, with over $500 million in assets seized to benefit victims of Iran-sponsored terrorism.
The U.S. government secured a historic civil forfeiture verdict against 650 Fifth Avenue and related properties, which a jury determined were secretly controlled by the Iranian government to evade U.S. economic sanctions. Over more than a decade, millions of dollars were funneled to Iran through these assets, with the 36-story Manhattan office tower alone valued at over $500 million. The case, pursued since 2008 by the Southern District of New York, resulted in the largest terrorism-related civil forfeiture in U.S. history, enabling asset recovery for victims of Iran-sponsored terrorism.
For over a decade, Iranian entities secretly controlled 650 Fifth Avenue and other real estate assets to circumvent U.S. economic sanctions against Iran, a designated state sponsor of terrorism. The 36-story Manhattan office tower, valued at over $500 million, served as a critical front through which millions of dollars were funneled to Iran, allowing the regime to maintain a foothold in the heart of New York City. The U.S. Department of Justice, through the Southern District of New York, pursued the case since 2008, building evidence that the properties were not privately owned but operated as instruments of Iranian state activity. On June 29, 2017, a jury delivered a landmark verdict finding the properties forfeitable to the United States, marking the largest terrorism-related civil forfeiture in U.S. history. The verdict also included additional real estate and funds, significantly expanding the scope of asset recovery. This outcome not only vindicated nearly a decade of investigative and prosecutorial effort but also provided a substantial financial mechanism to compensate victims of Iran-sponsored terrorist acts. The case underscored the U.S. government’s resolve to dismantle financial networks that enable sanctioned regimes to evade international restrictions.
Extracted insights
- $500.00M $500 million $100M–$1B
- person iranian government
- 650 Fifth Avenue served as front for Iranian Government
- 650 Fifth Avenue functioned as gateway for Millions of dollars to Iran
- Owners of 650 Fifth Avenue gave foothold to Iranian Government
- Iran circumvented U.S. Economic Sanctions
- Jury found forfeitable 650 Fifth Avenue and Other Real Estate and Funds
- 650 Fifth Avenue valued at $500 Million
- Verdict represents Largest Civil Forfeiture Jury Verdict in U.S. History
- Verdict represents Largest Terrorism-Related Civil Forfeiture in U.S. History
- Acting U.S. Attorney Joon H. Kim issued statement on Jury Verdict on June 29, 2017
- Owners of 650 Fifth Avenue violated U.S. Sanctions Laws
Press Release Statement Of Acting U.S. Attorney Joon H. Kim On Jury Verdict Finding 650 Fifth Avenue And Other Properties Forfeitable To The United States Thursday, June 29, 2017 Share FacebookLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. XLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. LinkedInLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. Email For Immediate Release U.S. Attorney's Office, Southern District of New York “For over a decade, hiding in plain sight, this 36-story Manhattan office tower secretly served as a front for the Iranian government and as a gateway for millions of dollars to be funneled to Iran in clear violation of U.S. sanctions laws. In this trial, 650 Fifth Avenue’s secret was laid bare for all to see, and today’s jury verdict affirms what we have been alleging since 2008: that through all the efforts to sanction and isolate Iran, a state sponsor of terrorism, the owners of 650 Fifth Avenue gave the Iranian government a critical foothold in the very heart of Manhattan through which Iran successfully circumvented U.S. economic sanctions. The jury’s verdict finding forfeitable a building valued at over $500 million dollars, as well as other real estate and funds, represents the largest civil forfeiture jury verdict and the largest terrorism-related civil forfeiture in U.S. history. This verdict not only vindicates the exemplary work of all the career prosecutors and law enforcement partners who have doggedly pursued this case for almost a decade, but importantly, it also allows for substantial recovery for victims of Iran-sponsored terrorism.” Updated June 29, 2017 Component USAO - New York, Southern Press Release Number: 17-196
Press Release Statement Of Acting U.S. Attorney Joon H. Kim On Jury Verdict Finding 650 Fifth Avenue And Other Properties Forfeitable To The United States Thursday, June 29, 2017 Share FacebookLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. XLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. LinkedInLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. Email For Immediate Release U.S. Attorney's Office, Southern District of New York “For over a decade, hiding in plain sight, this 36-story Manhattan office tower secretly served as a front for the Iranian government and as a gateway for millions of dollars to be funneled to Iran in clear violation of U.S. sanctions laws. In this trial, 650 Fifth Avenue’s secret was laid bare for all to see, and today’s jury verdict affirms what we have been alleging since 2008: that through all the efforts to sanction and isolate Iran, a state sponsor of terrorism, the owners of 650 Fifth Avenue gave the Iranian government a critical foothold in the very heart of Manhattan through which Iran successfully circumvented U.S. economic sanctions. The jury’s verdict finding forfeitable a building valued at over $500 million dollars, as well as other real estate and funds, represents the largest civil forfeiture jury verdict and the largest terrorism-related civil forfeiture in U.S. history. This verdict not only vindicates the exemplary work of all the career prosecutors and law enforcement partners who have doggedly pursued this case for almost a decade, but importantly, it also allows for substantial recovery for victims of Iran-sponsored terrorism.” Updated June 29, 2017 Component USAO - New York, Southern Press Release Number: 17-196