Florida A&M University's $237m fraudulent donation from entrepreneur Gregory Gerami is voided due to procedural missteps.
Florida A&M University's $237m donation from entrepreneur Gregory Gerami has been ruled fraudulent and void by an independent investigator. The university's officials failed to properly vet the donation, which was invalidated due to procedural missteps, including Gerami's improper transfer of 15m stock shares, and the absence of a countersigned gift agreement. The university's president, Larry Robinson, resigned last month amidst the controversy. The voided donation, intended for scholarships, athletics facilities, the nursing school, and a student business incubator, has resulted in reputational damage and halted contributions from previous donors.
August 08, 2024
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