Overview
- The settlement directs money tied to the 36-story office tower at 650 Fifth Avenue to hundreds of people harmed in Iran-backed attacks.
- Prosecutors said Iranian authorities used the Alavi Foundation and state-owned Bank Melli to hide an ownership stake and route rent to Tehran through shell firms in violation of U.S. sanctions.
- The agreement dissolves the Alavi Foundation and moves its assets to a new charity, the Amir Kabir Foundation, which will be monitored to ensure it stays independent of any government.
- Recipients include families from the 2001 Sbarro restaurant bombing in Jerusalem, victims of other suicide bombings in the 1990s and 2000s, and the family of Rabbi Meir Kahane.
- Plaintiffs holding more than $5 billion in U.S. judgments against Iran took part, and U.S. Attorney Jay Clayton said the outcome shows how civil enforcement can turn hidden state assets into compensation after years of unpaid awards.