Justin Sun Sues David Geffen Over Alleged $78M Art Fraud

Justin Sun, a Hong Kong-based cryptocurrency entrepreneur, has filed a lawsuit against billionaire art collector David Geffen, alleging that Geffen purchased a valuable Alberto Giacometti sculpture, 'Le Nez,' without Sun's consent. Sun claims that his former art adviser, Xiong Zihan Sydney, orchestrated the sale through forged documents and impersonation, leading to the sculpture's unauthorized transfer. He purchased 'Le Nez' for $78.4 million in 2021 but was unaware of its sale until months later. Geffen's attorney dismissed the claims as 'bizarre and baseless,' suggesting that Sun simply regrets the deal. Sun's legal team asserts that there were significant red flags in the transaction, including the use of a personal email for legal communications. Sun is seeking the return of the sculpture or substantial damages.