HBCU program receives 237 million dollar donation and they are now questioning it?

FAMU just received the largest donation they have ever received and now they are reportedly questioning it.

Florida A&M University is putting an announced $237 million donation from a Texas hemp farming executive “on hold,” as the media and school leaders raise questions about the value and source of the gift.

President Larry Robinson announced the decision at an emergency meeting Thursday of FAMU’s fundraising foundation.

Gregory Gerami the CEO of Batterson Farms donated 237 million dollars to the school which is almost double the amount of their largest donation ever at 121 million.

Batterson Farms Corporation appears to be a relatively small outfit based in Texas selling hydroponic hemp farm products, leading some to question how its stocks could be worth millions.

FAMU has released a statement that the funds were submitted correctly, but there is now questions as to how quickly this process is moving.

“As Vice Chair of the Board of Trustees, I have a responsibility to safeguard the integrity of the university I cherish, but I have deep concerns that this process is moving too quickly to embrace a gift without proper scrutiny,” said FAMU President Larry Robinson.

“Mr. Gerami’s $237,750,000 stock transfer was received in the same manner in which we have accepted all other stocks donated to the University through the FAMU Foundation Inc,” FAMU wrote in a statement. “As with any non-cash gift received, such as cryptocurrency, real estate and stocks, it will be converted to cash and recorded appropriately.”

Gerami made the school sign a non-disclosure agreement as well. This is not the first time that Gerami attempted to donate a large amount of money. He has tried to send money to Coastal Carolina, and Miles College before FAMU.

I am not sure how the money was donated but it was donated, and the money is already in the account. I am not sure how you would not process it? The school is a Non-Profit Organization, and it would help thousands of kids moving forward.