For allegedly being involved in fraud to the tune of N45.5 million, a businessman, Ibukun Gbadamosi, was on Tuesday arraigned before a Federal High Court sitting in Ikoyi, Lagos.

The Group Managing Director (GMD) of J3 Holdings was docked before the court, presided over by Justice Tijjani Garuba Ringim, on three counts of conspiracy, obtaining by false pretence and fraud to the tune of N45, 500, 000, by the Police Special Fraud Unit (PSFU) Ikoyi, Lagos.

According to the prosecutor, Justine Enang, the defendant alongside others now at large, allegedly committed the offences in Lagos, sometime in 2019, while working as a staff of Crovation Limited.

Specifically, the prosecutor informed the judge that the defendant fraudulently obtained the sum from one Dr Fabian Agbonzia, under the false pretence that he had a property.

Enang further notified the court that as soon as the sum of N45.5 million was paid into Gbadamosi’s nominated accounts; he diverted the money for his personal use and refused to give up the property.