- Billionaire Justin Sun has launched a lawsuit against World Liberty Financial (WLF), a cryptocurrency venture run by Donald Trump Jr and Eric Trump, alleging his multi-million dollar investment was secured through fraud.
- Sun claims his $45million investment, which at times was valued at over $1 billion, was made after WLF operators leveraged the Trump brand to profit fraudulently, leading to "hundreds of millions of dollars in damages."
- The lawsuit, filed in California, states that Sun's tokens have been indefinitely frozen and his voting rights revoked since he rejected a new governance proposal on 15 April.
- Sun's complaint further alleges that WLF is "on the verge of collapse" and "severe financial insolvency," with plans to pay up to 95 per cent of token sale proceeds to company insiders.
- Despite the legal action, Sun clarified on X that he continues to support Donald Trump personally, believing that "certain individuals on the World Liberty project team" are operating against Trump's values.
IN FULL
