ISIS Iran Report

What do Juicy Couture and Iran’s nuclear program have in common?

What do Juicy Couture and Iran’s nuclear program have in common? photo

December 19, 2008

No.  Juicy did not win a design competition for the Iranian Atomic Energy Agency’s new lab coats.  Turns out that the building housing Juicy Couture’s Fifth Avenue store is owned in part by Bank Melli, which is subject to United Nations Security Council sanctions for its role in financing Iran’s nuclear program.  The U.S. government alleges in a civil forfeiture Complaint filed in Manhattan federal court December 17 that Iran has sought to disguise Bank Melli’s stake in the building through a series of transfers to entities that are controlled by the bank.  According to the New York Post, the building was constructed in the 1970s by the Pahlavi Foundation and financed through a $42 million loan from Bank Melli.  The U.S. government is seeking the forfeiture of Iran’s stake in the building. Velour tracksuits emblazoned with the AEOI emblem will have to wait….

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