As controversy over ownership of Amen Estate continues

BY MURPHY AJIBADE ALABI

Billionaire Ms. Folasade Balogun and her estranged husband, Babatunde Gbadamosi, are still locked in a fierce battle over the ownership of Amen Estate, the high-end residential gem in Lekki.

With fortunes tied up in Redbrick Homes International Ltd, Amen City Ltd, and Ashlead Estates Ltd, broken promises and unspoken words are proving heavier than ever in this dramatic showdown of love gone wrong.

Staggeringly rich Ms. Folasade Balogun is hitting back hard, claiming that Babatunde Gbadamosi, her once-beloved heartthrob, was nothing more than a ‘sleeping partner’ with zero financial commitment to their ventures. Now, as the battle for control intensifies, Balogun is determined to reclaim her financial reputation, branding Gbadamosi as nothing more than an impostor in their high-stakes dispute.

Meanwhile, Babatunde Gbadamosi also accused his ex-wife, Mrs. Folasade Balogun, of laundering ₦2.8 billion of company funds through an illicit account. He rejected their assertions and explained that the document contradicts the CAVEAT EMPTOR he issued regarding the dissipation of assets from his 21-year marriage to Mrs. Folasade Balogun Gbadamosi.

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Gbadamosi dismissed the document as “meaningless,” accusing his ex-wife of obtaining it through deception and the fraudulent suppression of critical information during mediation.

“In 2018, unknown to me, Mrs. Folasade Balogun Gbadamosi opened a secret account for Redbrick Homes International Ltd at Keystone Bank. She forged my signature to open the account.

“At mediation, having discovered the existence of this illicit account, I asked her about it. Her lawyer, Bayo Adaralegbe, threatened to ‘go after’ me for signing for Sade – with her permission – when I registered the company in 2003, because she was not in Nigeria and the registration needed to be done to complete the purchase of the land at Amen Estate.

“My desire for peace and a disloyal lawyer forced me to be silent on it. I was to later discover through a police investigation, that as of June 2022, Mrs. Folasade Balogun Gbadamosi had laundered ₦2.8b of company funds through this illicit account.

“On the basis of her failure to disclose this important fact at mediation, I opted, upon legal advice, to resile the mediated agreement which had resulted in my resignation, and unknown to me, the immediate appointment of her lawyer, Bayo Adaralegbe of Babalakin and Co, to the board of the same Redbrick Homes International Ltd as a director!

“The validity of the mediation settlement used to defraud and steal the companies from me is the subject of ongoing litigation and because she knows no court, by public policy, would allow the fraudulent agreement to stand is why she wants to quickly sell off the marital assets before the court voids the agreement.

“That is why that document she’s waving about is meaningless. It was obtained by her DECEPTION and FRAUDULENT suppression of vital information from me at the mediation.”

Gbadamosi claimed Balogun has avoided responding personally to him so she would not be caught in a lie.