Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at how Justin Sun escalates his legal fight against World Liberty Financial.
World Liberty Financial v Justin Sun
Founder of Tron, Justin Sun, has claimed that World Liberty Financial (WLDI) failed to disclose their links with the UAE until months after the lawsuit regarding $45 million in WLFI tokens.
As part of a post on social media platform X, Sun noted that he informed his lawyers to request for a federal court in California to sanction the Trump family-backed crypto venture. The sanctions would be based on the length of time it took for them to disclose that the makeup of its ownership chain allows for citizenship in the United Arab Emirates.
Sun had invested $45 million in WLFI tokens but his relationship with the Trump-backed project fell apart. Sun went on to sue the company as he alleged both fraud and the unlawfully freezing his tokens. World Liberty Financial then countersued and even described his claims as a “meritless PR stunt.”
The escalation of the fight towards the ownership of WLFI’s corporate disclosures came before the company amended its filing to identify 22 entities in its ownership chain. Among those owners were people with citizenship in Florida, Delaware, Puerto Rico, and the United Arab Emirates.
The sanctions motion is claiming nearly $264,000 in legal fees and costs from the company and its attorneys. The courts are yet to decide whether the company intentionally concealed their ownership ties and structure. This means the allegations remain disputed and Sun's claim of a misleading filing from the company is yet to be resolved.
https://x.com/justinsuntron/status/2117619305479286993
Have a great day.
Peace. CryptoGod-1.
