In an emergency meeting spurred by a recent donation that created skepticism, the Florida A&M University board of trustees and the school’s president agreed that checks and balances are required.
A unanimous vote Wednesday afternoon called for an external investigation of FAMU’s processes and procedures after a $237 million gift from hemp farmer Gregory Gerami that has turned out to be possibly illegitimate.
The meeting began with FAMU President Larry Robinson apologizing to board of trustee chairperson Kristin Harper.
“I accept full responsibility. I ignored the warning signs. I wanted it to be real,” Robinson said of Gerami’s gift, which consists of stock that would accrue over 10 years. “My oversight is in no way a reflection of her integrity or her diligence.”
Harper accepted Robinson’s apology, adding, “I never should’ve been used for a convenient video or photo-op for a gift that I knew nothing about.”
In calling for an external investigation, Harper said, “Transparency and accountability are critical to understanding what happened and why it happened and taking swift and corrective actions, based on facts, to improve the operations and control of our university. I believe this is best achieved with external support.”
Several board members, including vice chair Deveron Gibbons, expressed displeasure with the necessary proceedings.
“All it took was normal due diligence,” Gibbons said of discovering that Gerami’s Batterson Farms Corporation appears to be non-existent or not nearly as successful as previously stated.
Trustee Otis Cliatt II compared the call for an independent investigation to the New England Patriots “DeflateGate” scandal.
“Tom Brady said if the NFL commissioner had come to him and asked if he had done it, he would’ve said, ‘Yeah, I did it. ‘” Cliatt said, “The NFL wasted $20 million. If we move forward with hiring a firm, we need to know what those costs are ahead of time.”
The FAMU board of trustees called an emergency meeting after further details emerged regarding Gerami’s unsuccessful attempts to donate to several institutions, most notably Coastal Carolina, whom he charged with racism after the University declined his offer.
The day began with the resignation of FAMU Foundation executive director and school Vice President of Advancement Shawnta Friday-Stroud after she reported during last Thursday’s foundation meeting that she reported to Robinson on donation matters.
There is concern about how the university will perceived moving forward, as new SGA president Loryn May said near the end of the meeting.
“Being that this incident has hit the news,” May asked Robinson, “how will the university mitigate any potential negative impacts on its financial stability and, more importantly, the reputation of the university?”
Robinson said that with an ongoing investigation, he couldn’t say much about it, but he encouraged the students and staff to continue promoting Florida A&M in a positive light.
“We’ll be working with you and your fellow students to get the word out that we’re still in business,” he said.
