Gregory Gerami doubles controversial $237 million donation, says FAMU has gone radio silent

Gregory Gerami, who claims to have donated nearly a quarter billion to Florida A&M University, still insists the value of his gift to the university is estimated at $237 million.

FAMU, the nation’s highest-ranked historically black public university, now appears to have severed all public ties with Batterson Farms Corp. CEO Gerami.

At the May 15 special board meeting, Chairman Larry Robinson apologized, saying the donation had “ceased,” but did not explain what that meant. He admitted to making mistakes and “ignoring warning signs,” leading the commission to decide to conduct a third-party investigation.

In an interview with the Tallahassee Democratic Journal on Thursday, Gerami said he did not watch the special meeting, adding that he was “on vacation and trying his hand at pickleball and he wasn’t unable to connect”.

As of May 16, Gerami said he had “received no formal communication from FAMU regarding its decision to cease all activity related to the donation,” adding that he had not been contacted by Robinson or anyone among the FAMU leaders for almost a week. And while he stands by his alleged donation, he has not responded to the Democrat’s requests to share any assessment or valuation of the stock.

“I have not received any information that they were going to withdraw the donation (as of May 16),” said Gerami, who said he understands that FAMU Foundation board members and administrators want to see an evaluation by a third of private shares. “It’s premature, and I can’t speak for FAMU and I have no problem with FAMU… My commitment remains.”

“The university, other people and the media are doing premature things because we don’t even have an evaluation.”

He said he was “aware of certain things,” including the sudden resignation of Shawnta Friday-Stroud as vice president for university advancement and executive director of the FAMU Foundation and the appointment of a acting director.

When asked if FAMU had canceled the giveaway, he said, “I haven’t heard that.”

---

On May 4, when Gregory Gerami addressed the audience of Florida A&M University graduates, their families, friends and alumni, he proclaimed to applause, “The money is in the bank.”

Yet the growing evidence behind the gift and the donor was not what it seemed when the gift was hailed as the largest act of philanthropy in HBCU history. Instead, documents later revealed that Gerami transferred 14 million shares of undetermined value that could be worth $300 million or zero dollars, according to a FAMU Foundation board member.

Gerami, a little-known Texas-based hemp grower and CEO of Batterson Farms Corp, has billed himself as a burgeoning innovator, owner of one of the few black hemp farms in Texas.

But according to the Tallahassee Democrat, few industry insiders knew his name and his small digital footprint and missing money trail led to near-instant skepticism. Despite six months of interactions and conversations, FAMU moved past possible red flags, which could have led them to a former Alabama politician listed as Gerami’s co-CEO, who told the Democrat to Tallahassee that she had never received a cent from him.

Last Wednesday, the Florida A&M Board of Trustees called a meeting to discuss next steps following a historic $237 million gift the Rattlers received during their spring opening ceremony. During the nearly two-hour meeting, the board voted unanimously to order an external investigation to examine the details of this substantial donation.

The investigation would aim to determine what happened during the process leading to the acceptance of the donation and ensure compliance with policies, processes and financial controls. He will also recommend any necessary corrective actions in a written report under the direction of the Chairman of the Board’s Audit and Compliance Committee, Michael White.

Council members should receive regular updates on the investigation once it begins.

---

In Thursday’s interview with Gerami, Demcorat asked if he would participate in a third-party investigation surrounding the donation. Gerami replied: “It depends on what is requested.”

“We also understand that transparency is essential to a certain extent,” he said. “We also need to protect our business and proprietary information. So having a third party evaluate our company and determine the stock price, I think that’s the most important thing in this whole situation.

Gerami also said he was not asked to attend last week’s emergency FAMU Foundation meeting or the FAMU Board of Trustees meeting.

“I know for a fact that no one said, ‘Mr. Gerami, we would like you to join this Zoom call to answer any questions from the board,” he said. “No one asked for this.”

Had he answered the call, Gerami said he believed his presence would have been welcomed by some and others would have attacked him.

“That comes with the situation, doesn’t it?” he said. “You learn that people are going to think what they want to think and they are going to say what they want to say.”