Subscribe
Follow Us
In Florida A&M's Board of Trustees meeting held this afternoon, university president Larry Robinson addressed the $237 million donation fiasco and accepted responsibility for what occurred.
“Let me begin by stating that as president of Florida A&M University, I take full responsibility for this matter and the ensuing call out. I apologize to this board, the foundation board of directors, our students, and their families. Our faculty, staff, alumni, and friends who have worked so hard with us over the past several years to elevate Florida A&M University to its current status as the number one public HBCU and the rank of 91 in national public institutions in America according to U. S. News & World Report. It is because of you and a dedicated and committed team of individuals who come to work every day to tend to the welfare of our students. And before they were consistent with our core values of accountability, inclusion, innovation, and integrity, and to our donors whose generosity has led to new levels of fundraising and enabling the university to further support our mission and have student success outcomes and so much more. Please know that FAMU is still a sure bet when it comes to stewardship.
Robinson spoke on the supposed gift, and how the clear issues surrounding Gerami were overlooked.
“I saw in this unprecedented gift, the potential to serve our students and our athletic programs in ways unimaginable at that time. It would truly be transformational, I believe. I wanted this to be real and ignore the warning signs along the way. There was no personal gain, but the impact on our students and our university would have been extraordinary.”
He then absolved Kristin Harper, Chair of the Florida A&M Board of Trustees, and other individuals, from any responsibility in the alleged donation incident.
“I must note that I did not inform Chair Harper of the gift, nor did I inform Chair LaBoo of the Foundation Board of Directors, the chair of the Foundation Board of Directors, prior to the commencement program on Saturday, May the 4th. I owe a sincere apology to Chair Harper who happened to be at commencement and was asked to pose her pictures with Mr. Gerami not knowing about this whole affair. It was reported, by the way, in error that she knew of the plans and she did not. My oversight is in no way a reflection of her integrity and diligence.”
Following Robinson's comments, Harper responded by saying, “I'm grateful for how the institution has flourished in the past several years under Dr. Robinson's leadership. I've told him privately also that I and many others are frustrated and disappointed about the reason we're here today. Or the implications this could undoubtedly have on donor trust and confidence. What does surprise me, however, is how the events concerning this gift have unfolded. As chair of this board, I, nor my fellow trustees, nor the FAMU Foundation should have been caught by surprise with the public announcement of a gift of this magnitude. I accept your apology, Mr. President, because 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. I fully support your decision to cease this transaction. 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 confluence of events involves Gerami's speech and the alleged distribution of $237 million in stocks to the organization. Following the announcement during the commencement ceremony on May 4th, numerous Florida A&M alumni and HBCU supporters expressed doubts about Gerami. Very little information is available about Gregory Gerami, the Issac Batterson 7th Family Trust, or Gerami's company, Batterson Farms Corporation. Searches for Gerami before the alleged $237 million donation yielded scarce results.
Following growing skepticism about Gerami and his donation, Florida A&M's Office of Communications released a statement, saying,
“While Florida A&M University (FAMU) is still extremely excited about Mr. Gregory Gerami's historic announcement yesterday of the Isaac Batterson Family 7th Trust, we are fully aware of the skepticism that sometimes comes with such a large gift.
As expected, some individuals in the public are and will continue researching Mr. Gerami. Please know that FAMU has done its due diligence when it comes to this matter. Additionally, Mr. Gerami has and continues to do his own due diligence on things that have been and are happening at FAMU.
While a non-disclosure agreement (NDA) we signed prevents us from disclosing many details, as was reported on May 4 – Mr. Gerami transferred $237,750,000 worth of stocks into our account last month. Mr. Gerami's $237,750,000 stock transfer was received in the same manner in which we have accepted all other stocks donated to the University through the FAMU Foundation Inc. As with any non-cash gift received, such as cryptocurrency, real estate, and stocks, it will be converted to cash and recorded appropriately.
Again, we greatly appreciate Mr. Gerami's and the Isaac Batterson Family 7th Trust's generosity. Our students will be the true beneficiaries of their most generous contribution.”
However, the institution quickly changed course as Robinson announced in an emergency with the Board of Trustee that the institution had paused the alleged $237 million gift.
“With regards to the gift and the processing of it and so forth, in terms of future processing, we’ve already decided it’s in our best interest to put that on hold,” he said during the meeting.
Robinson also announced in the Board of Trustees meeting that Florida A&M Vice President of Advancement Shawnta Friday-Stroud has resigned from her position. She will be returning to serve as the Dean of the School of Business and Industry.
