Let F be the Fred money original amount;
Let J be that of Justin.
From the second phrase you have this equation
J - 16 = 70 dollars (1)
From the third phrase you have this equation
J - 8 = 430 dollars (2)
Equations (1) and (2) contradict each other, OBVIOUSLY.
Therefore, this problem is SELF-CONTRADICTORY and has no solution.