American film producer, record executive and art collector David Geffen has hit back at crypto entrepreneur Justin Sun in a countersuit disputing ownership claims over a multimillion-dollar sculpture.
The billionaire American media mogul filed a counterclaim against Sun on April 16, calling the Tron founder’s suit a “sham” and adding claims of “unethical and/or illegal business activities.”
Sun sued Geffen in February, claiming that the statue was stolen from him by a former employee who then sold the artwork to Geffen in a deal worth around $65 million in artwork and cash.
Sun purchased the Alberto Giacometti sculpture titled “Le Nez” at a Sotheby’s auction in 2021 for $78 million, working with the assistance of his former art adviser, Xiong Zihan Sydney.
In the 100-page countersuit, Geffen claims that Sun and Xiong “contrived this fraudulent lawsuit” after they couldn’t profitably sell two paintings that