Justin Sun sues billionaire David Geffen over $78.4 million art deal
On February 7th, Justin Sun filed a lawsuit against billionaire collector David Geffen in the Manhattan Federal Court, demanding the return of a sculpture by Giacometti called "Le Nez" or a substantial compensation. According to court documents, Justin Sun's former advisor Xiong Zihan Sydney sold the sculpture, which Justin Sun bought for $78.4 million at Sotheby's in 2021, to Geffen without authorization by forging signatures and pretending to be a lawyer. The transaction included two paintings worth $55 million and $10.5 million in cryptocurrency. Geffen's lawyer stated that the lawsuit is "ridiculous and baseless".
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