Thursday, June 13, 2024

Somethin’ Ain’t Right – FAMU Announces ‘Pause’ on $237 Million Donation | VIDEO

*FAMU President Larry Robinson announced Thursday that the university would “pause” a historic $237 million donation.

“With regards to the gift and the processing of it … We’ve already decided that it is in our best interest to put that on pause,” Robinson said, the Tallahassee Democrat reports.

We reported earlier that Florida A&M University (FAMU) received a staggering $237.75 million contribution from the Issac Batterson 7th Family Trust. Gregory Gerami, CEO of Batterson Farms Corp, presented the generous donation to FAMU during Saturday’s commencement ceremony at the Al Lawson Center.

This record-breaking donation is earmarked to bolster student success programs and enhance athletics at the esteemed institution. However, following an emergency FAMU Foundation Board meeting on Thursday, Robinson stated that the university would pause any further action until it could assess the value of the stock options contributed by Gerami, a trustee of the Isaac Batterson Family 7th Trust.

The donation to the university has elicited praise and skepticism from FAMU staffers and alumni. Some expressed concern about Gerami’s background and financial history, which cast doubt on his portrayal as a wealthy hemp farmer and entrepreneur.

Per the Tallahassee Democrat, “FAMU will also examine the processes that enabled a little known entrepreneur to command the graduation stage and announce a gift that now appears to be too good to be true before a graduating class of seniors, their families and the Rattler Nation,” the outlet writes.

SandraRose.com reports that FAMU Foundation Executive Director Shawnta Friday-Stroud participated in all discussions with Gerami regarding the donation. However, she refrained from informing the board due to a signed NDA preventing her from disclosing the specifics of the gift.

FAMU 2024
Gregory Gerami presents check to FAMU / YouTube screenshot

Friday-Stroud informed the Tallahassee Democrat that stocks valued at $237,750,000 were transferred to the FAMU Foundation’s account. She noted that the university possesses “certificates” for these stocks. However, skeptics argue that the stocks have no value.

“I’m here to really understand the process and the transaction itself,” Board member Chekesha Kidd said.

Kidd claims she didn’t learn about the donor gift until a friend informed her.

“The board got no official notice about this until Sunday afternoon. That’s very, very problematic,” Kidd added.

READ MORE FROM EURWEB.COM: Florida A&M University Gifted $237M from Batterson Trust and CEO Gregory Gerami

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