December 17, 2008

Treasury says New York firm is a front for Iranian bank

The Treasury Department said Assa Corp. was really a straw company Iran's Bank Melli had established in order to hold an ownership stake in prime real estate. The acting U.S. attorney for the Southern District of New York filed a civil complaint seeking forfeiture of Assa's 40 percent ownership in a 36-story building on Fifth Avenue near Rockefeller Center.

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