Justin Sun sues billionaire David Geffen over a $78.4 million art deal dispute
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 "LeNez" or huge compensation. According to litigation documents, Xian Zihan Sydney, a former consultant of Justin Sun, sold the sculpture purchased by Justin Sun at Sotheby's in 2021 for US$78.4 million to Geffen without authorization by forging signatures and fictitious legal identities. The transaction consideration included two paintings worth $55 million and $10.5 million in cryptocurrency. Geffen's lawyers said the lawsuit was "ridiculous and baseless."
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