David Geffen, the American record executive and billionaire art collector, is embroiled in a legal battle concerning the ownership of Alberto Giacometti's $78.4 million sculpture, Le Nez. Filed by Justin Sun, a cryptocurrency founder known for high-profile art purchases, the lawsuit alleges that art adviser Xiong Zihan Sydney misrepresented the ownership of the sculpture and forged Sun's signature to sell it to Geffen. The case underscores the complexities of art transactions and the intersection of blockchain technology with the art world, particularly involving fractional ownership and digital exhibitions.
The lawsuit highlights a dispute between Justin Sun and David Geffen over the ownership of a $78.4 million Alberto Giacometti sculpture, Le Nez.
Sun claims that Xiong Zihan Sydney forged his signature and misrepresented ownership of Le Nez, fraudulently selling it to Geffen.
The Giacometti piece, sold at Sotheby’s for $60 million, is the subject of a complex legal battle involving cryptocurrency, art collection, and alleged forgery.
This lawsuit raises critical questions about art ownership, the complexities of blockchain transactions, and the intersection of art and cryptocurrency.
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