Amen Estate legal dispute: Billionaire Folasade Balogun, ex-hubby in messy legal battle

The Amen Estate legal dispute between Folasade Balogun and Babatunde Gbadamosi escalates as both parties battle over high-end business assets

[dropcap]A[/dropcap] fierce legal dispute has erupted between billionaire Ms. Folasade Balogun and her estranged husband, Babatunde Gbadamosi, over the ownership of Amen Estate, a luxury residential development in Lekki.

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Once partners in love and business, the couple now finds themselves locked in a bitter battle, with fortunes tied up in Redbrick Homes International Ltd, Amen City Ltd, and Ashlead Estates Ltd.

Ms. Balogun claims Gbadamosi was a “sleeping partner” who made no financial contribution to their ventures. Determined to protect her reputation, she has branded him an impostor in this high-stakes fight for control of their business empire.

On the other side, Gbadamosi has levelled serious accusations against his ex-wife, accusing her of laundering ₦2.8 billion of company funds through a secret account.

He asserts that during mediation, Balogun withheld key information, leading to a fraudulent agreement that resulted in his resignation from their companies.

Gbadamosi further alleges that Balogun forged his signature to open an illicit account at Keystone Bank in 2018, which she used to siphon company funds.

In his defence, Gbadamosi claims he withdrew from the mediated settlement upon discovering the hidden account and is now challenging the validity of the agreement in court.

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He accuses Balogun of attempting to sell off marital assets before the court voids the fraudulent deal.

The legal battle continues, with both sides presenting conflicting narratives and evidence in this high-profile case.