**Justin Sun and David Geffen's Court Battle Escalates over Alleged Theft of Giacometti Sculpture**
Crypto billionaire Justin Sun and entertainment mogul David Geffen's legal disagreement over Alberto Giacometti's 'Le Nez' sculpture has escalated into a contentious matter, now involving allegations of art fraud, forged documents, and international legal issues.
The originally purchased bronze, steel, and iron sculpture, bought by Sun for $78.4 million at Sotheby's in 2021, was reportedly sold to Geffen without Sun's knowledge, according to Sun. Sydney Xiong, Sun's former adviser who is alleged to have executed the deal using fictitious lawyers and forged documents, is now said to be detained at the Dezhou Detention Center in Shandong Province, China since February.
In response to Sun's lawsuit in New York, Geffen filed a 100-page countersuit in April, describing Sun's claim as "bizarre and baseless" and attributing the dispute to "seller's remorse." Geffen's filing alleges that Sun and Xiong failed to offload the two paintings at a profit and then attempted to reclaim the Giacometti by fabricating a legal claim.
Furthermore, Geffen's countersuit points to inconsistencies in Sun's narrative. No police report was filed, WhatsApp messages were deleted, and Sun's lawyers received conflicting information about when, how, and even if the alleged fraud occurred. Xiong, Geffen's team notes, remained listed as the director of Sun's APENFT platform months after the initial lawsuit was filed.
Sun's lawsuit claims that the diverted 'Le Nez' was sold to Geffen for $10.5 million in cash and two unidentified paintings, despite Sun never authorizing the transaction. Sun only agreed to sell 'Le Nez' if the price was north of $80 million, according to legal documents.
Geffen's camp also seized on Sun's recent financial and reputational troubles, citing the crypto crash, a $115 million platform hack in 2023, and an ongoing SEC civil fraud case. Lawsuits by former employees accusing Sun of forcing them to engage in unethical or illegal business practices are also mentioned.
Despite the ongoing legal battle, Sun remains adamant about the accusations made against Xiong and Geffen. William Charron, Sun's lawyer, stated, "Geffen is clinging to the fiction that Sydney Xiong was not a thief. More very compelling details will come out through the fullness of this litigation."
In the intricate world of art transactions, this dispute underscores the complexities involved in high-stakes art dealings and the secretive nature of the art market.
- David Geffen's countersuit against Justin Sun, in response to Sun's lawsuit, accused Sun of seller's remorse and attempted fabrication of a legal claim regarding the sale of Alberto Giacometti's 'Le Nez' sculpture.
- The legal disagreement over the Giacometti sculpture, initially a purchase by Sun for $78.4 million at Sotheby's in 2021, has now expanded to include allegations of art fraud, forged documents, and international legal issues.
- Geffen's team pointed to inconsistencies in Sun's narrative, including no police report filed, deleted WhatsApp messages, and conflicting information about when, how, and even if the alleged fraud occurred.
- Syndey Xiong, Sun's former adviser, who is alleged to have executed the deal using fictitious lawyers and forged documents, has been detained at the Dezhou Detention Center in Shandong Province, China since February.
- The high-stakes art dealing dispute involving celebrities Justin Sun and David Geffen, centering around Alberto Giacometti's 'Le Nez' sculpture, underscores the complexities and secretive nature of the art market. It also intersects with general news, crime-and-justice, and modern entertainment, given the involvement of various controversies and legal matters.
![Major search concluded in May 2023 (Archived photograph) [Photograph]](/en/img/20250607001714_pexels-image-search-image-description-sunset-beach-landscape.jpeg?width=1280&crop=4-3&quality=75)
