HBCU, Florida A&M University was allegedly scammed by a 30 year old entrepreneur and CEO of Texas hydroponic hemp farm company Batterson Farms Corp.
The announcement of the gift originally made headlines on Saturday May 4th following FAMU’s commencement ceremony where Gerami was the speaker. The gift was worth nearly double the university’s current $121 million endowment—as “breathtaking in its generosity and its scope,” the University’s President Larry Robinson said in a statement on May 4th. “It changes the narrative about what is possible for FAMU.”
Apparently Gregory Gerami- presented the HBCU with a $237,750,000 million stock gift. A ceremonial check was presented to the school and its administrators during their commencement.
A Politico report noted Batterson Farms Corp. is a small company, and that its private shares are unlikely to be worth hundreds of millions of dollars.
In 2020, a notable deal involving a donor later identified as Gerami fell apart. South Carolina’s Coastal Carolina University had announced a $95 million donation from an anonymous donor, who then backed out months later. An investigation by the Myrtle Beach Sun News identified Gerami in a story that noted, among other details, that he backed out alleging racism from CCU officials—an allegation they denied.
“A decision that was made yesterday to put a pause on this activity- a hold, is more or less, is the language that was used- pending some additional Information that has come to my attention.” – FAMU President Larry Robinson said on Thursday.
FAMU has decided to hold off on accepting the stocks from Gregory’s private company since it is likely the stocks aren’t worth over $200 million.
Questions are now arising on the legitimacy of Gerami’s hemp farm and the existence of his actual business.
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