Friday, November 13, 2009

The Totally Amazing 650 Fifth Avenue Building

The building at 650 Fifth Avenue was built in the 1970s by the Shah of Iran, who was overthrown in 1979.

The US Attorney's office in Manhattan said yesterday that it is seeking control of a 60-percent stake in in the building, now held by the Alavi Foundation, a New York-based charitable group.

"The Alavi Foundation has effectively been a front for the government of Iran," said Preet Bharara, the US Attorney in Manhattan.

"For two decades, the Alavi Foundation's affairs have been directed by various Iranian officials, including Iranian ambassadors to the United Nations, in violation of a series of American laws."

Many floors in the building, in the1980's, were leased to Marc Rich, before he hightailed it to Switzerland.

After Rich left, Ivan Boesky took over Rich's space, before he was arrested in the Rudy Giuliani attack on Michael Milken's Wall Street crew.

Most recently, Joe Biden's brother, and also his son, have been conducting some peculiar business out of the 17th floor of the building.

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