Sun claims his multi-million dollar investment in World Liberty Financial was secured through fraud, according to multiple reports. He alleges that WLF's operators treated the project as a golden opportunity to leverage the Trump brand to profit through fraud, describing himself as a prime target of their fraudulent scheme.
According to the complaint, Sun purchased $45 million-worth of WLF tokens in 2024. He credits his decisive anchor investment with helping to establish the credibility of WLF, calling it a public vote of confidence. The lawsuit alleges that World Liberty Financial is run by Donald Trump Jr and Eric Trump, with Donald Trump credited as WLF's chief crypto advocate. Sun was moved to become involved because of the project's claims that it would promote adoption of decentralized finance and because of the Trump family's association with the project. He describes himself as a long-time ardent supporter of President Donald Trump and the Trump family.
on the verge of collapse
The complaint accuses WLF of making multiple false statements, inducing Sun's investments through fraud, scheming to secure more capital from him, misrepresenting the company's compliance with the law, improperly freezing his tokens, making threats, and defamation. Sun alleges that WLF is in severe financial insolvency, stating the project is on the verge of collapse. He further alleges that WLF has planned to pay up to 95 percent of the token sale proceeds to company insiders. Sun's tokens have been indefinitely frozen and his voting rights revoked since he refused to accept the terms of a new governance proposal submitted on April 15. The new governance proposal required that 10 percent of all company advisers' tokens be permanently burned.
Sun and his companies have incurred hundreds of millions of dollars in damages. He hopes to force WLF to unfreeze his tokens and block it from seizing, burning, destroying, or encumbering them, as well as obtain damages and costs.
lawfully purchased
Despite the litigation, Sun continues to support Donald Trump personally. He believes that certain individuals on the World Liberty project team have been operating the project in a manner that goes against President Trump's values.
The Trump Organization's response to the lawsuit and allegations remains unknown, as The Independent has reached out for comment. It is unclear what evidence Sun has to support his fraud allegations against WLF, and the current financial status and operational condition of World Liberty Financial has not been independently verified. The specific terms and legal basis for freezing Sun's tokens and revoking his voting rights have not been detailed, and Donald Trump's role in World Liberty Financial beyond being credited as chief crypto advocate is not specified in the complaint.
which at times have been valued at over $1 billion
decisive anchor investment
public vote of confidence
lackluster demand
because of the project's claims that it would promote adoption of decentralized finance
because of the Trump family's association with the project
ardent supporter of President [Donald] Trump and the Trump family
as a golden opportunity to leverage the Trump brand to profit through fraud
a prime target of their fraudulent scheme
hundreds of millions of dollars in damages
severe financial insolvency
most of the token sale proceeds – up to 95 percent – to company insiders
seizing, burning, destroying, or encumbering
certain individuals on the World Liberty project team have been operating the project in a manner that goes against President Trump's values