United States v. All Funds on Deposit in United Bank of Switzerland

OPINION

RAKOFF, District Judge.

By Complaint filed March 9, 2001, the Government, proceeding in rem under the Civil Asset Forfeiture Reform Act (“CAF-RA”), 18 U.S.C. § 981, sought forfeiture of $3,083,376 held in a New York bank account in the name of Sawan Exchange Company, LLC (“Sawan”) and subject to an order of attachment issued on behalf of the Government. The Complaint alleged that Sawan, a currency exchange company, undertook on behalf of certain of its customers to transfer to Iran sums equivalent to the amount here sought to be forfeited, in violation of Executive Orders promulgated…