Risk Level:
unknown %

Status:
Medium Alert – Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.

Info:
Parent organization of Assa Corporation;

Controlled by and acts for or on behalf of Iran’s Bank Melli;

Established (with Assa Company Limited) as shell companies to disguise Bank Melli’s 40% ownership interest in the 650 Fifth Avenue Company – owner of the office building at 650 Fifth Avenue, New York, NY, founded in 1989 as a partnership between the Mostazafan Foundation (now the Avali Foundation) and Bank Melli;

Since at least 1990, transferred rental income from 650 Fifth Avenue Company to Bank Melli through Assa Company Limited without the required U.S. government authorization;

Held a bank account into which the Fifth Avenue Company deposited approximately $17,083,000 between January 2000 and December 2007; allegedly followed Bank Melli’s instructions concerning its business affairs and investment management, and reported its financial situation to Bank Melli regularly;

Targeted by a civil action filed by the U.S. Department of Justice on December 17, 2008, seeking the forfeiture of all right, title and interest of Assa Corporation, Assa Company Limited and Bank Melli in the 650 Fifth Avenue Company and all funds formerly on deposit at Citibank and JPMorgan Chase Bank under the name of Assa Corporation as proceeds of alleged violations of the U.S. International Emergency Economic Powers Act and as property involved in alleged money laundering and attempted money laundering;

On September 17, 2013, district court for the Southern District of New York ruled in favor of the United States and ordered that the property by forfeited;

In October 2008, had $1.9 million seized from its Citibank accounts and $1.2 million seized from its JP Morgan accounts by the Federal Bureau of Investigation;

Also Known As:
Assa Corporation Ltd
Assa Co. Ltd.
Assa Ltd. Co.
Assa Ltd.
Assa Co.

Country:
United States

Address:
6 Britania Place, Bath Street, St. Helier JE2 4SU, Jersey

Reason for the color:
» Listed by the European Union on July 26, 2010 as an entity linked to Iran’s proliferation-sensitive nuclear activities or Iran’s development of nuclear weapon delivery systems;
» Removed from the E.U. list in January 2016 as part of the Joint Comprehensive Plan of Action;
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on December 17, 2008, pursuant to Executive Order 13382, which targets proliferators of weapons of mass destruction (WMD) and their delivery systems;
» Removed from the SDN list in January 2016 as part of the Joint Comprehensive Plan of Action;
» What’s known about Iran-linked Alavi Foundation;
» Assa Corporation and Assa Company Limited (“Assa Co. Ltd.”) have been providing numerous services to Bank Melli in contravention of IEEPA and the Iranian Transactions Regulations promulgated thereunder, including transferring rental income generated from 650 Fifth Avenue Company to Bank Melli;
» Alavi transferred 35 percent of the Partnership to Assa, an entity wholly owned by Assa Co. Ltd. Assa Co. Ltd. is a Jersey, Channel Islands, United Kingdom, entity owned by Iranian citizens who represent the interests of Bank Melli;


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IFMAT Color Guide

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We sort entities who are connected with terrorist activities, in two sections, first by risk and second by geolocation.
GeoLocation divisions are divided into two fields, Black List and Gray List.
BlackList is a list of all companies, organizations and figures who originate from Iran.
GrayList is a list of all companies, organizations and figures out of Iranian borders, and doing business with Iran.
We identify risk of entities by COLOR selection, each color marks the risk level of the entity.(by declining order)
 
TOP ALERT
Designated / Sanctioned / Illicit entities
 
HIGH ALERT
Entities affiliated with Designated / Sanctioned / Illicit entities.
 
MEDIUM ALERT
Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.
 
RISK ALERT
Entities in a problematic sector - Sector controlled by the Top Alert entities.
 
GENERAL ALERT
Legitimate entities - we cannot determine whether an entity is completely green, and that is due to the facts that the Iranian economy is not transparent enough for us. Be sure.