Messy! Florida HBCU Deals With Ugly Aftermath After Discovering $238 Million ‘Gift’ Was a Hoax
On Wednesday (May 15), Florida A&M University President Larry Robinson apologized for a $237 million donation that has seemingly been deemed fraudulent.
Batterson Farms Corp. CEO Gregory Gerami was responsible for the major gift. The good news was shared on May 4 and immediately received national praise. However, some questioned the validity of such a large amount of money being given to an HBCU.
Robinson revealed that ultimately the gift transaction has been “ceased” just days after stating the historic donation was placed on hold. Now, the university’s trustees are investigating the questionable transaction.
Its aftermath has caused Shawnta Friday-Stroud, who worked as Florida A&M University’s vice president for University Advancement and executive director of the FAMU Foundation, to resign from her position as vice president.
Friday-Stroud, alongside six FAMU officials, decided to accept Gerami’s donation without informing other vital stakeholders of the school — including members of the FAMU Foundation Board of Directors and the Board of Trustees, according to officials and news reports.
Robinson took accountability for the poor vetting of the donor who was recognized as the keynote speaker at a spring graduation ceremony. “I wanted it to be real and ignored the warning signs along the way,” Robinson explained to the board.
“The public announcement at commencement was premature at best, and I apologize to all who witnessed it and shared their joy and jubilation. It is my belief that with the guidance of this board, we will arrive at a process much more transparent when it comes to such large gifts in the future,” he further stated.
Robinson also apologized to Board of Trustees Chair Kristin Harper. However, Harper was unimpressed. “I should have never been put on the spot or used for a convenient photo or video op for a gift that I knew nothing about,” Harper pointedly said.
She added: “I fully support your decision to cease this transaction. I only wish the decision would have been made during the six months spent on developing the gift and before a public announcement would have been made that could tarnish the reputation of this university.”
The investigation will examine what happened during the process that led to accepting the donation and take a closer look at compliance with policies, processes and financial controls.
