The post David Geffen Counters Justin Sun’s Fraud Allegations Over Alberto Giacometti’s Artwork Ownership Dispute appeared on BitcoinEthereumNews.com.

David Geffen counters Justin Sun’s ownership claims of a multimillion-dollar sculpture, igniting a legal battle steeped in allegations of fraud. In a twist of events, Geffen’s countersuit not only disputes the claims over the Alberto Giacometti artwork but also paints Sun as involved in unethical business practices. “Sun’s claims concerning Le Nez are utterly without merit,” Geffen’s legal team asserts, indicating a deeper conflict in the art and crypto worlds. Billionaire David Geffen challenges Justin Sun’s ownership claims of ‘Le Nez,’ alleging fraud amid a heated legal battle over the sculpture’s rightful possession. Geffen vs. Sun: A Legal Showdown Over Art Ownership The ongoing dispute between David Geffen and Justin Sun has exemplified the volatile intersection of the art world and cryptocurrency. Geffen’s countersuit, filed on April 16, 2023, challenges Sun’s allegations that a multimillion-dollar sculpture, Le Nez, was wrongfully obtained. Geffen contends that Sun’s lawsuit is merely a strategic ploy to recover losses from his failed investments in the turbulent cryptocurrency markets. Context: The Acquisition of Le Nez The controversy began when Justin Sun alleged that the sculpture, purchased at a Sotheby’s auction for $78 million, was stolen by a former employee. According to court documents, Geffen asserts that the negotiation for the piece involved a complex exchange of art and cash, including a $10.5 million payment in addition to other artworks. The crux of the dispute lies in questions of authenticity and legality surrounding Sun’s claims. Geffen argues that Sun’s financial distress—exacerbated by the 2022-2023 crypto market downturn—has fueled this litigious strategy to reclaim lost assets. Allegations of Fraudulent Activity In his countersuit, Geffen goes beyond merely disputing ownership. He accuses Sun of engaging in a pattern of fraudulent behavior, citing past lawsuits from former employees alleging misconduct and illegal business practices. These accusations pose significant implications for…

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Filed under: News - @ April 18, 2025 5:27 am