Tron founder Justin Sun has filed a lawsuit against film producer David Geffen, demanding the return of an Alberto Giacometti sculpture or up to $80 million in damages.
Loss of 'Le Nez' Sculpture
Sun alleges that former employee Xiong Zihan Sydney, his art advisor, orchestrated the theft and sale of the sculpture to Geffen. 'Le Nez', created by Giacometti between 1947 and 1949 and cast in 1965, was bought by Sun for $78.4 million in November 2021. He intended to donate it to the ApeNFT Foundation but never completed the transfer.
David Geffen's Counterarguments
Geffen's lawyer, Tibor Nagy, dismissed the allegations as 'baseless', calling the lawsuit 'bizarre'. He stated that Geffen had no direct contact with Sun's art advisor and the transaction was completed through intermediaries.
Conflict Background
Sun claims he asked Xiong to look for potential buyers offering at least $80 million, but never authorized a sale. His legal team argues Geffen should have noticed red flags such as a lawyer using a personal Gmail account for the deal.
The dispute highlights the high value of artwork in the modern world and the complexities that can arise in its ownership and transfer.
