*The president of Florida A&M University, the state’s sole public historically Black university, resigned following controversy over the mishandling of a multi-million dollar donation from a questionable donor.
Larry Robinson submitted his resignation last week, according to The Associated Press. His departure comes two months after another high-ranking official at FAMU resigned following her involvement in accepting a record-breaking donation for the institution. The gift swiftly crumbled under scrutiny, raising doubts about its true worth.
We reported earlier, citing Politico, that trustees launched an investigation into the gift from a Texas hemp farming executive, questioning how it was approved without their prior knowledge. Florida A&M University (FAMU) received a historic $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 a graduation ceremony in May at the Al Lawson Center.
Robinson, dressed in his academic regalia, stood on stage holding an oversized check for $237 million. Had it been realized, this donation would have been the largest private gift ever to a historically Black college or university.
However, following an emergency FAMU Foundation Board meeting, 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 drew praise and skepticism from FAMU staffers and alumni alike. Some expressed concern about Gerami’s background and financial history, which cast doubt on his portrayal as a wealthy hemp farmer and entrepreneur.
“I saw in this unprecedented gift the potential to serve our students and our athletic programs in ways unimaginable at that time,” Robinson told the university’s trustees on May 15. “I wanted it to be real and ignored the warning signs along the way.”
Robinson has led the 137-year-old HBCU for seven years.
A search for a new president is underway.
READ MORE FROM EURWEB.COM: Top FAMU Official Resigns Amid $237M Donation Calamity
