Florida A&M Launches Investigation Into $237 Million ‘Gift’ Deemed Hoax

Photo: Getty Images Florida A&M University officials have launched an investigation into a $237 million donation that was seemingly fraudulent, The Root reports. The investigation comes after FAMU announced earlier this month that it had received a $237 million gift from Batterson Farms Corp. CEO Gregory Gerami. The historic donation was placed on hold and ultimately “ceased” after questions of the transaction’s validity arose. Amid the controversy, Shawnta Friday-Stroud, Florida A&M University’s vice president for University Advancement and executive director of the FAMU Foundation, resigned from her position. Friday-Stroud and other FAMU officials reportedly accepted Gerami’s large donation before informing other stakeholders of the school, including members of the FAMU Foundation Board of Directors and the Board of Trustees. FAMU president Larry Robinson apologized for not properly vetting the donation. The donor was previously recognized as a keynote speaker at a graduation ceremony. “I wanted it to be real and ignored the warning signs along the way,” Robinson told 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...