There is fallout at a Florida university after a questionable $237 million donation from Hemp CEO – Top Stories (Trending Perfect)

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By Rajiv

A high-ranking Florida A&M official resigned last week as fallout from the university's recent announcement of a questionable donation continues.

Shawnta Friday Stroud has resigned as Tallahassee School of Undergraduate Advancement vice president and executive director of the FAMU Foundation, university President Larry Robinson said at a Board of Trustees meeting Wednesday.

Friday Stroud, who will remain with FAMU as dean of the College of Business, has faced backlash for her involvement in allowing donor Gregory Gerami to present a check for more than $237 million during the university's May 4 commencement. Jeramy also served as a speaker at the event.

Public criticism since the announcement has remained consistent as more information has emerged, Questioning reported wealth From the CEO of a Texas hemp cultivation company. It is revealed that the donation to FAMU is private equity in Jeremy's company, Batterson Farms Corp.

Gregory Jeramy, third from left, poses for a photo with officials from Florida A&M University after announcing a historic $237 million donation to the school.  After public skepticism about the Texas hemp farm CEO's wealth, officials admitted the gift might be worthless, and Shawnta Friday-Stroud (second from left) resigned as vice president for college advancement.Gregory Jeramy, third from left, poses for a photo with officials from Florida A&M University after announcing a historic $237 million donation to the school.  After public skepticism about the Texas hemp farm CEO's wealth, officials admitted the gift might be worthless, and Shawnta Friday-Stroud (second from left) resigned as vice president for college advancement.

Formerly Sun News He identified Jerami as the anonymous donor who pledged $95 million in 2020 to Coastal Carolina University before the college ended that relationship just months later.

Jeramie told the Sun News that he regrets Friday Stroud, whom he considers a friend, losing her position. He has confirmed that his gift is worth about $237 million, although he acknowledges that No external evaluation of the shares has been conducted Until now.

What happened during the FAMU Board of Directors meeting?

Robinson began Wednesday's meeting by telling the board he accepts full responsibility for the situation.

“I wanted it to be real and I ignored some warning signs along the way,” he said.

FAMU initially doubled what would have been the largest donation ever to a historically black college or university, issuing a press release the next day to announce it had “conducted its due diligence.” Officials have since admitted The shares may be worthless.

But Robinson told the board that information he received the previous week showed the gift was “not what it seemed,” so he “paused” the processing of the donation and instructed his staff to cease all communications with Jerami.

Gregory Jeramey, left, president and CEO of Patterson Farms, shakes hands with Florida A&M University President Larry Robinson.  Gerami recently announced a $237 million donation to FAMU, the largest donation ever to a historically black college or university.  But many are skeptical after a similar donation he pledged to Coastal Carolina University in 2020 collapsed.Gregory Jeramey, left, president and CEO of Patterson Farms, shakes hands with Florida A&M University President Larry Robinson.  Gerami recently announced a $237 million donation to FAMU, the largest donation ever to a historically black college or university.  But many are skeptical after a similar donation he pledged to Coastal Carolina University in 2020 collapsed.

A university spokesperson reached by phone declined to clarify what information Robinson received or what pausing the gift meant since FAMU previously reported that the stock had already been transferred to them.

The board meeting was spent primarily discussing details of a potential investigation into how FAMU officials accepted Jeramy's donation and allowed him to speak during commencement to announce the gift.

Board President Christine Harper and other board members criticized Robinson for not telling them about the donation until it was publicly announced. FAMU officials previously said that was because of a nondisclosure agreement that Jeramy insisted on signing moving forward.

“[We] “We should never have been surprised by a gift of this magnitude,” Harper said.

Board members initially planned to ask Robinson and Friday Stroud questions about the process during Wednesday's meeting, but board member Belvin Berry said that could compromise the independent, outside investigation they were seeking.

The Board of Directors unanimously approved a proposal to hire an outside firm to conduct a full investigation and recommend corrective actions.

Does Gregory Jerami have any regrets?

Jeramie told the Sun News on Thursday that he did not watch the meeting and feels all the criticism directed at him is premature because there was no third-party evaluation of the stock. He said his company is in the process of hiring a qualified appraiser.

“If the appraisal supports (the value we reported) of the gift, what will it do? [critics] Says?” he asked.

Asked if he thought the donation announcement was premature, Gerami said that if university policy was not followed, that was not his problem because it was not his job to know those policies.

“In hindsight, you have all your ducks in a row [would have been] “Good idea,” he said.

Gregory Jeramie, fourth from left, president and CEO of Patterson Farms, recently announced a $237 million donation to Florida A&M University at the school's 2024 commencement. It's the largest ever for a historically Black college or university.  But many are skeptical after a similar donation he pledged to Coastal Carolina University in 2020 collapsed.Gregory Jeramie, fourth from left, president and CEO of Patterson Farms, recently announced a $237 million donation to Florida A&M University at the school's 2024 commencement. It's the largest ever for a historically black college or university.  But many are skeptical after a similar donation he pledged to Coastal Carolina University in 2020 collapsed.

When asked if he had any regrets regarding the situation with FAMU, he paused for a long time before answering: “I don’t know; This is difficult.

Jeramy later called to answer the question, telling the Sun News that he feels bad that the situation developed the way it did, but that doesn't mean he regrets anything he did.

“My goal was to tell my story of adversity, adoption, dealing with a disability, dreaming, and building my business the way I did,” he said. “Obviously being able to give back was the goal. It was supposed to be transformative for FAMU. … I'm sorry that the backlash has gotten to this point.”



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