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NEW YORK, Dec. 18 (UPI) -- The U.S. Justice Department is trying to seize a share in a building on New York's Fifth Avenue, claiming it is held by a front company for an Iranian bank.
Prosecutors have filed papers in federal court targeting 650 Fifth Ave., the New York Post reported Thursday. The 36-story building at Fifth Avenue and 52nd Street houses the flagship branch of Juicy Couture, an upscale clothing line owned by Liz Claiborne.
Assa Corp. owns a 40 percent share in the building. The Justice Department describes Assa as a front for Bank Melli, which is owned by the Iranian government.
Bank Melli has "facilitated the purchase of sensitive materials utilized by Iran's nuclear and missile industries," the Treasury Department says.
The building was built in the 1970s by the Pahlavi Foundation, which was founded by the shah of Iran, and financed by a $42 million loan from Bank Melli. The Justice Department charges that Bank Melli disguised its interest in the building when the shah was overthrown in the 1979 Islamic Revolution.
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