Justin Sun Sues Billionaire David Geffen Over $78.40 million Art Deal Dispute
2025-02-07 01:34:57
On February 7, Justin Sun filed a lawsuit against billionaire collector David Geffen in federal court in Manhattan, seeking the return of a Giacometti sculpture, "The Nose" (LeNez), or massive compensation.
According to the lawsuit, Xiong Zihan Sydney, a former adviser to Justin Sun, sold the sculpture, which Justin Sun bought at Sotheby's in 2021 for $78.40 million, to Geffen without authorization, including by forging signatures and imagining the identity of a lawyer. The transaction included two paintings worth $55 million and $10.50 million in cryptocurrency. Geffen's lawyer called the lawsuit "ridiculous and baseless."
According to the lawsuit, Xiong Zihan Sydney, a former adviser to Justin Sun, sold the sculpture, which Justin Sun bought at Sotheby's in 2021 for $78.40 million, to Geffen without authorization, including by forging signatures and imagining the identity of a lawyer. The transaction included two paintings worth $55 million and $10.50 million in cryptocurrency. Geffen's lawyer called the lawsuit "ridiculous and baseless."
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